Need answer the accounting question please answer do fast A management accountant is studying the relationship betweenthe number of units of output in one year and the total costincurred for a given product. From the records of the firm thefollowing data was extracted. Determine the firm fixed cost.Output(Q) Total Cost TC0120112431204140

Step 1: Define High-low MethodThe High-low method is used to separate total costs into fixed cost…

Answered: A management accountant is studying the…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 5DQ

See similar textbooks

Similar questions

The management of Hartman Company is trying to determine the amount of each of two products to produce over the coming planning period. The following information concerns labor availability, labor utilization, and product profitability: a. Develop a linear programming model of the Hartman Company problem. Solve the model to determine the optimal production quantities of products 1 and 2. b. In computing the profit contribution per unit, management does not deduct labor costs because they are considered fixed for the upcoming planning period. However, suppose that overtime can be scheduled in some of the departments. Which departments would you recommend scheduling for overtime? How much would you be willing to pay per hour of overtime in each department? c. Suppose that 10, 6, and 8 hours of overtime may be scheduled in departments A, B, and C, respectively. The cost per hour of overtime is 18 in department A, 22.50 in department B, and 12 in department C. Formulate a linear programming model that can be used to determine the optimal production quantities if overtime is made available. What are the optimal production quantities, and what is the revised total contribution to profit? How much overtime do you recommend using in each department? What is the increase in the total contribution to profit if overtime is used?
Determine the firm fixed cost?
Determine the firm fixed cost? General accounting
What is the firm's fixed cost on these general accounting question?
Financial Account
When preparing a forecasted contribution margin income statement and you are given the units produced, how do you compute dollars per unit?
The graphs below represent cost behavior patterns that might occur in a company’s cost structure. The vertical axis represents total cost, and the horizontal axis represents activity output Required:For each of the following situations, choose the graph from the group a–1 that best illustrates the cost pattern involved. Also, for each situation, identify the driver that measures activity output.1. The cost of power when a fixed fee of $500 per month is charged plus an additional charge of $0.12 per kilowatt-hour used.2. Commissions paid to sales representatives. Commissions are paid at the rate of 5 percent of sales made up to total annual sales of $500,000, and 7 percent of sales above $500,000.3. A part purchased from an outside supplier costs $12 per part for the first 3,000 parts and $10 per part for all parts purchased in excess of 3,000 units.4. The cost of surgical gloves, which are purchased in increments of 100 units (gloves come in boxes of 100 pairs).5. The cost of tuition…
Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales?
Your boss would like you to estimate the fixed and variable components of a particular cost Actual data for this cost over four recent periods appear below. Activity Cost Period 1 22 235 Period 2 23 243 Period 3 25 255 Period 4 20 227 Using the least-squares regression method, what is the cost formula for this cost? Y = P107.45 + P5.89X O Y = P0.00 + P10.67X O Y = P111.92 + P5.69X O Y = P120.81 + P3.56X
The following diagram is a cost-volume-profit graph for a manufacturing company: ^ O Volume с Select the answer that best describes the labeled item on the diagram. A. Area CDE represents the area of net loss. B. Line AC graphs total fixed costs. C. Point D represents a point at which the profit is greater than zero. D. Line AC graphs total costs.
The controller of Ashton Company prepared the following projected income statement: Sales $97,000 Total variable cost 32,850 Total fixed cost 43,800 Operating income $20,440 Required: Calculate the contribution margin ratio?
You are employed as a research and development manager for a production company. The chief ex- ecutive officer of the company has asked you to generate costing data to better assist in expansionary planning for the company. You are required to generate costs data from the equation below. C(y)=23y2 +12y+8 assume10

SEE MORE QUESTIONS

Recommended textbooks for you

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

Essentials of Business Analytics (MindTap Course …

Statistics

ISBN:

9781305627734

Author:

Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

Essentials of Business Analytics (MindTap Course …

Statistics

ISBN:

9781305627734

Author:

Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:

Cengage Learning

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

A management accountant is studying the relationship between the number of units of output in one year and the total cost incurred for a given product. From the records of the firm the following data was extracted. Determine the firm fixed cost. Output(Q) Total Cost TC 0 120 1 124 3 120 4 140