Please answer only Activity 3. Thank you? (Cost accounting) 4G4G08:44 NE393 - Activity.Cos.ActivitiesActivity 1Ang-bang Co., doing business in the province of La Union, reports the following total costs at two levelsof production:Cost ItemDirect laborIndirect labor2,000 unitsP 12,0004,00020,0007,00024,0008,00016,0005,000 unitsP 30,00015,00020,00016,00024,00019,00040,000ClassificationProperty taxesMaintenanceDepreciationUtilitiesDirect materialsREQUIRED: Classify each cost as variable, fixed, or mixed.Activity 2Jimmy P. is a highly successful farmer who has formed his own company to produce and package bananachips. The recently hired controller for the firm is about to apply the high- low method in estimating thecompany's energy cost behavior. The following costs were incurred during the past 12 months:Kilos of Banana Chips Produced105.00063,00066,00072,000Energy CostsP70,20066,30066,00067,350MonthJanuaryFebruaryMarchApril90,00096,0002,00090,00090,00084,000123,000117,000MayJuneJulyAugustSeptemberOctoberNovember68,70070,05012,50068.40069,00068,10072,30074,850DecemberREQUIRED:1. Use the high-low method to estimate the company's energy cost behavior and express it in equationform.2. Predict the energy cost for a month in which 78,000 kilos of banana chips are produced.Activity 3Mighty Muffler, Inc. operates an automobile service facility that specializes in replacing mufflers oncompact cars. The following table shows the costs incurred during a month when 700 mufflers werereplaced.Muffler replacementsTotal costs:600700800Fixed costsVariable costsTotal costsP56,00028,000P84.000aCost per muffler replacement:Fixed costVariable costTotal cost per muffler replacementhkmRequired:a. Fill in the missing amounts, labeled (a) through ( o), in the table.b. Compute income, assuming that the service fee per muffler replacement is P120, and that the companymade 730 muffler replacements during the period.1 | PageII

Activity 3 Mighty Muffler, Inc. operates an automobile service facility that specializes in replacing mufflers on compact cars. The following table shows the costs incurred during a month when 700 mufflers were replaced. Muffler replacements Total costs: 600 700 800 Fixed costs Variable costs Total costs Cost per muffler replacement: Fixed cost Variable cost P56,000 28,000 P84.000 a C g. Total cost per muffler replacement www n Required: a. Fill in the missing amounts, labeled (a) through ( o), in the table. b. Compute income, assuming that the service fee per muffler replacement is P120, and that the company made 730 muffler replacements during the period.

Activity 3 Mighty Muffler, Inc. operates an automobile service facility that specializes in replacing mufflers on compact cars. The following table shows the costs incurred during a month when 700 mufflers were replaced. Muffler replacements Total costs: 600 700 800 Fixed costs Variable costs Total costs Cost per muffler replacement: Fixed cost Variable cost P56,000 28,000 P84.000 a C g. Total cost per muffler replacement www n Required: a. Fill in the missing amounts, labeled (a) through ( o), in the table. b. Compute income, assuming that the service fee per muffler replacement is P120, and that the company made 730 muffler replacements during the period.

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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