Assume October is the high-volume month for a toy manufacturer and July is the low-volume month. The following total production costs and volume levels have been recorded: Total Costs Volume October $30,000 6,000 July $12,000 2,000 The total fixed costs are: a. $18,000 b. $3,000 c. $9,000 d. $6,000

Assume October is the high-volume month for a toy manufacturer and July is the low-volume month. The following total production costs and volume levels have been recorded: Total Costs Volume October $30,000 6,000 July $12,000 2,000 The total fixed costs are: a. $18,000 b. $3,000 c. $9,000 d. $6,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

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

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

Chapter2: Basic Managerial Accounting Concepts

Section: Chapter Questions

Problem 38E: Total and Unit Product Cost Martinez Manufacturing Inc. showed the following costs for last month:...

See similar textbooks

Related questions

Q: West Company estimates that overhead costs for the next year... Can you please answer the general…

A: Step 1: Define Plant wide Overhead RateThe term 'plant wide overhead rate' refers to the single rate…

Q: The Kim Company reported total manufacturing costs of $195,000; manufacturing overhead totaling…

A: Explanation of Total Manufacturing Costs: Total manufacturing costs represent the sum of all…

Q: I want both answer

A: Explanation of Overhead Rate:The overhead rate is a calculation used in cost accounting to allocate…

Q: Please solve and correct answer the general accounting question not use chatgpt

A: Step 1: Define Operating CycleThe average time that is taken by a firm to first purchase inventory,…

Q: Product O?

A: Explanation of Cost Pool: This represents a grouping of individual overhead costs that have a…

Q: Hello tutor please provide correct answer financial accounting

A: Step 1: Define Profit MarginA corporation's profitability and financial stability are largely…

Q: I need answer of this question solution general accounting

A: Step 1: Definition of Number of Days' Sales in ReceivablesThe number of days' sales in receivables…

Q: Hello tutor please provide correct answer general Accounting

A: To calculate the total fixed costs, we use the formula for operating income: Operating Income =…

Q: A company has one unit of each of the following items in its ending inventory: please answer the…

A: Step 1: Define Lower-of-Cost-or-Market (LCM)The LCM method requires that each item in inventory be…

Q: Provide answer financial accounting

A: Step 1: Given Value for Calculation Current Price of Stock = p = $64.37Last Year Dividend = d =…

Q: Help me

A: Explanation of Causal Analysis: Causal analysis is a systematic process of identifying the…

Q: I won't to this question answer general Accounting

A: Step 1: Define Direct Manufacturing Overhead CostManufacturing overhead costs are those costs which…

Q: I need this question answer general Accounting

A: Step 1: Define Standard CostingUnder standard costing, we compare actual and standard performance.…

Q: State farm insurance, has sovel this question Financial accounting

A: Step 1: Define Net IncomeNet income is the most important indicator of a business's performance as…

Q: Net Accounts Receivable?

A: To calculate Yami's average net accounts receivable, we can use the accounts receivable turnover…

Q: Calculate the ending balance of Accounts Receivable.

A: Step 1: Start with the beginning balanceAccounts Receivable (beginning) = $85,000Step 2: Add any…

Q: General Accounting

A: The average rate of return that a business is anticipated to provide to its investors—both debt and…

Q: I Need help this question solution general Accounting

A: Step 1: Define Direct Labor Budget:The direct labor budget is one of the manufacturing cost budgets…

Q: I need typing clear urjent no chatgpt used i will give 5 upvotes pls full explain

A: To create a database for an online newspaper, we need to consider the essential components of the…

Q: Kindly help me Accounting question

A: Step 1: Definition of Cost of Goods Sold (COGS)The cost of goods sold (COGS) includes the costs…

Q: Superior electronic reported sales solve this accounting questions

A: Step 1: Definition of Gross Profit and Cost of Goods SoldGross Profit: The profit a company makes…

Q: Tally ho inn has annual sales of... Please need answer the financial accounting question

A: Step 1: Define Profit MarginProfit margin is a profitability ratio that can be estimated by diving…

Q: General accounting

A: Step 1: Identify the Formula for Dollar Return Step 2: Calculate Capital Gains Step 3: Calculate…

Q: Hi expert please give me answer general accounting

A: Step 1: Definition of Manufacturing OverheadManufacturing overhead includes all indirect costs…

Q: Please solve this general accounting issue

A: To calculate the total manufacturing costs incurred during the fiscal year 2023, we use the…

Q: Please give me answer general accounting

A: Step 1: Identify the values for Beginning Inventory, Purchases, and Ending InventoryStep 2: Use the…

Q: Provide correct answer General Accounting

A: When a country (or an individual) gives up one unit of future consumption, it implies saving that…

Q: Need Help

A: The question requires the determination of the average accounts receivable. Average accounts…

Q: Accounting Question

A: Step 1: Define Net Operating IncomeNet operating income is the income after paying for the operating…

Q: As you reflect on the use of Data Analytics in auditing and tax accounting, choose one of the…

A: Data Analytics plays a crucial role in auditing by providing auditors with the ability to analyze…

Q: Jackson trading uses a periodic inventory solve this accounting questions

A: Step 1:Identify the valuesStep 2:Substitute into the formulaStep 3:Perform the calculations

Q: Solve this question general Accounting

A: Step 1: Define Standard CostDirect Materials is the materials used in producing the product that is…

Q: Give me answer general accounting question

A: Step 1: Calculation of Adjusted BasisAdjusted Basis = Cost of Equipment - Depreciation…

Q: Larsen Industries sold machinery used in its operations for cash.... Please answer the general…

A: The gain or loss realized by Larsen Industries is calculated by subtracting the adjusted basis from…

Q: Please given correct answer general accounting

A: The dollar return measures the total amount you earned from an investment. It includes two…

Q: Cara Trust Bank's financial records include a beginning cash balance of $128,000. During the period,…

A: Given:Beginning cash balance: $128,000Outstanding deposits: $15,400 (to be added)Unpaid checks:…

Q: How do cost-plus-incentive contracts affect revenge recognition timing?

A: Under cost-plus-incentive contracts, revenue is typically recognized based on estimates, including…

Q: I need answer of this accounting questions

A: Step 1: Definition of Profitability Index (PI)The Profitability Index (PI) is a financial metric…

Q: The ending balance in the retained earnings. General accounting

A: Step 1: Define Net IncomeA financial metric called net profit aids in measuring profitability…

Q: Assume the required reserve ratio solve this general accounting question

A: Step 1: Definition of money multiplierThe amount of money a bank can create is determined by the…

Q: Hi expert please give me answer general accounting question

A: Step 1: Definition of Total Asset TurnoverThe total asset turnover ratio measures a company's…

Q: Alvarez Company's break-even point in units is.... Solve these general accounting question

A: Step 1: Define Net IncomeNet income is the amount reported on the income statement of the…

Q: Shares of common stock of Samson Co. offer.... Please correct calculation for this financial…

A: Step 1: Define Dividend YieldThe dividend yield depicts the percentage value of the company's…

Q: Beginning WIP 26,000

A: Concept of Process CostingProcess costing is a method used in industries where production is…

Q: Hello teacher please help me Accounting question

A: Calculation of Market Value of EquityMarket Value of Equity = Shares outstanding x Market price = 50…

Q: Answer? ? Financial accounting

A: The question involves the cost of equity capital, and the proper method based on the given data is…

Q: When NCI is credited, it means decreasing, but why it still increase 34 in the group column? If NCI…

A: Non-controlling interest (NCI), also known as minority interest, is the portion of equity ownership…

Q: Please need answer the general accounting question

A: Inventory is recorded on the balance sheet at the lower of cost or market value.In this case:Cost of…

Q: The Leo Company had $600,000 of sales revenue. During the same accounting period the beginning and…

A: Explanation of Cash Collected from Customers:Cash collected from customers refers to the actual cash…

Q: Solve this question financial accounting

A: Step 1: Define Net IncomeNet income indicates that a company is performing well and generating…

Question

The following total production costs solve this question financial accounting

Assume October is the high-volume month for a toy manufacturer and July is
the low-volume month. The following total production costs and volume levels
have been recorded:
Total Costs Volume
October $30,000
6,000
July
$12,000
2,000
The total fixed costs are:
a. $18,000
b. $3,000
c. $9,000
d. $6,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

What is the fixed cost per month?
The following monthly data are available for Sunland Company. which produces only one product: Selling price per unit, $49; Unit variable expenses, $14; Total fixed expenses, $42000; Actual sales for the month of June, 5000 units. How much is the margin of safety for the company for June? A. $84000 B. $1200 C. $186200 D. $42000
ss.
The manufacturing costs of Mocha Industries for three months of the year are as follows: April May June Total Cost $54,546 57,092 61,082 Production 1,670 Units 2,340 3,390 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places. $ per unit b. Using the high-low method, determine the total fixed costs. $
Use the attached and calculate the below: Identify the fixed and variable costs associated with Cosgrove. Calculate the average costs per month.
What are the total fixed costs on these general accounting question?
The manufacturing costs of Mocha Industries for three months of the year are as follows: Month Total Cost Production April $79,092 1,440 units May 80,136 2,020 units June 81,756 2,920 units a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.fill in the blank 1 of 1$ per unit b. Using the high-low method, determine the total fixed costs.
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production April $98,908 1,180 Units May 101,540 1,650 June 105,740 2,400 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.$ per unit b. Using the high-low method, determine the total fixed costs.$
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost $71,260 73,735 77,585 April May June Production 1,120 units 1,570 units 2,270 units a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places. per unit LA b. Using the high-low method, determine the total fixed costs.
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production $86,462 91,068 98,353 April May June 2,460 Units 3,440 4,990 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places. per unit b. Using the high-low method, determine the total fixed costs.
Frazier Manufacturing Company collected the following production data for the past month: Units Produced Total Cost 1,600 $66,000 1,300 $57,000 1,500 $67,500 1,100 $49,500 If the high-low method is used, what is the monthly total cost equation?
The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost Production April $102,926 1,860 Units May 105,960 2,600 June 110,798 3,780 a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.$fill in the blank 1 per unit b. Using the high-low method, determine the total fixed costs.$fill in the blank 2