a = Fixed production costs per month = Variable production costs per direct labor hour = Number of months Direct labor hours per month Y = Total monthly production costs S = Summation Using the high-low method, what is the cost formula for estimating costs? Let ADEXYS b n X

Q: in f) above. Angela De Dios, a business graduate student who was working as a mere employee in a…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Explain the difference between total variable costs and variable costs per unit.

A: Cost can be categorized as variable and fixed costs.

Q: Give some examples of Fixed Costs?

A: Fixed costs: Fixed costs are those costs which remain unchanged even there is a change in the…

Q: Which is more consistent with cost-volume-profit analysis, variable costing or absorption costing?…

A: Absorption Costing: "Absorption costing is a method that allocates "direct labor, direct materials,…

Q: how do I find direct cost per unit

A: Direct Cost A direct cost is a price that is directly associated with the production of particular…

Q: Marginal Costing

A: Option a is wrong because marginal costing is not a technique of cost reduction. Cost reduction…

Q: What is the standard cost income statement?

A:

Q: In applying the high-low method of cost estimation to mixed costs, how is the total fixed cost…

A: Mixed cost also called the semi variable cost . Mixed cost contains both fixed and variable cost .…

Q: What are the formulas for: 1. Contribution Cost 2. Break even cost

A: Cost refers to the expense that is incurred for making the goods or providing services by the…

Q: A total cost equation can be used to predict future costs for various activity levels. Write the…

A: Concept The total cost is the sum of variable cost and fixed cost incurred For example if variable…

Q: Explain the difference between direct costs and indirect cost

A: Direct cost is the cost incurred by the organization while performing their center business process…

Q: What can be the Direct-Variable Costs? Explain. What can be the Direct-Fixed Costs? Explain. What…

A: Direct variable cost are those cost incurred in line with production or for a particular product or…

Q: Show income comparison's of absorption and variable costing?

A: Absorption costing method can be defined as the all the costs that is associated with the production…

Q: What is the similarity of fixed costs with variable costs and its differences.

A: similarities and differences of fixed cost and variable cost are discussed in step 2

Q: what are the differences between the FIFO, LIFO, and the average cost?

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: iable costs in the context of cost-volume-profit (CPV) analysis?  b. Fixed costs in the context of…

A: Cost volume profit analysis is very important for the companies because it tells them that whether…

Q: Explain average cost method.

A: Average cost method: Under average cost method inventories are priced at the average of all…

Q: What is the standard cost income statement? Give an example?

A: Meaning of Standard cost income statement:A standard cost is the estimated cost of production based…

Q: Which of the following are assumptions associated with the cost equation? Check all that apply. The…

A: Cost equation means a line or formula which shows both types of cost like fixed costs and variable…

Q: relevant and irrelevant cost

A: Relevant and irrelevant costs are categories of costs based on their effect on decision making.

Q: COSTING METHOD. 1. What is average cost method? 2. What is FIFO cost method?

A: Solution: 1.   Average cost method: Average cost method is also known as weighted average method.…

Q: Types of Fixed and Variable cost with the help of example and graph?

A: Costs are the total spent amount for the expenditures and for producing the goods and services.…

Q: The “fixed cost per unit function” may also be described as: a.an asymptote b.the total cost line…

A: Introduction:- Fixed costs, also known as indirect costs or overhead costs, are corporate expenses…

Q: How are costs assigned differently using the average cost method?

A: Inventory valuation is the valuation of inventory at the time of its purchase and sale using…

Q: Is there a benefit behind using either FIFO, LIFO, or the weighted average costing method?

A: Yes, there are benefits to using each of the three inventory costing methods - FIFO…

Q: a. What problems are associated with using the average cost per unit as a performance measure? b.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Why is it important to keep track of both direct and indirect costs? How do these costs effect…

A: (a )If we keep a tracking record of direct and indirect costs we can determine the firm's…

Q: What is the correlation between fixed, variable, and semi-variable costs??

A: Introduction:- Fixed Costs – Costs are same irrespective of the number of output produced Variable…