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ABC Firm reported the following for the final three months of 2020: October November December Units Produced 6,500 4,500 7,000 8,500 4,000 4,800 Units Sold COGS S39,975 30,225 $46,975 32,550 $40,500 18,600 Direct Materials Used Depreciation of Factory Machines Shipping Cost Rent Utilities in Factory 7,280 5,600 3,125 19,250 7,840 5,600 3,125 27,650 4,480 5,600 3,125 19,880

ABC Firm reported the following for the final three months of 2020: October November December Units Produced 6,500 4,500 7,000 8,500 4,000 4,800 Units Sold COGS S39,975 30,225 $46,975 32,550 $40,500 18,600 Direct Materials Used Depreciation of Factory Machines Shipping Cost Rent Utilities in Factory 7,280 5,600 3,125 19,250 7,840 5,600 3,125 27,650 4,480 5,600 3,125 19,880

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1) For each cost determine whether it is fixed,variable or mixed? Think about the appropriate activity level for each cost:units sold or units produced.

 

2) prepare a properly formatted cost function for each cost ?

ABC Firm reported the following for the final three months of 2020: October November December Units Produced Units Sold 6,500 4,500 7,000 8,500 4,000 4,800 COGS Direct Materials Used Depreciation of Factory Machines Shipping Cost Rent Utilities in Factory S39,975 30,225 S46,975 32,550 S40,500 18,600 7,280 5,600 3,125 19,250 7,840 5,600 3,125 27,650 4,480 5,600 3,125 19,880
Transcribed Image Text:ABC Firm reported the following for the final three months of 2020: October November December Units Produced Units Sold 6,500 4,500 7,000 8,500 4,000 4,800 COGS Direct Materials Used Depreciation of Factory Machines Shipping Cost Rent Utilities in Factory S39,975 30,225 S46,975 32,550 S40,500 18,600 7,280 5,600 3,125 19,250 7,840 5,600 3,125 27,650 4,480 5,600 3,125 19,880
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