Current Attempt in ProgressJobs, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can scan a home for fires and gas leaks andthen transmit this information to a smartphone. The cost structure to manufacture 20,000 Tri-Robos is as follows.Direct materials ($50 per robot)Direct labor ($40 per robot)Variable overhead ($6 per robot)Allocated fixed overhead ($30 per robot)TotalCost(a1)$1,000,000800,000120,000600,000$2,520,000Jobs is approached by Tienh Inc., which offers to make Tri-Robo for $115 per unit or $2,300,000.Following are independent assumptions.AWP&XfC Assume that none of the fixed overhead can be avoided. However, if the robots are purchased from Tienh Inc., Jobs can use thereleased productive resources to generate additional income of $375,000. (Enter negative amounts using either a negativesign preceding the number e.g. -45 or parentheses e.g. (45).)Direct materialsDirect laborVariable overheadFixed overheadOpportunity costPurchase priceTotalsLA$$MakeJA$$BuyAⓇMacBook ProWLALAPNet IncomeIncrease(Decrease)dGXf⠀⠀

Variable cost means the cost which vary with the level of output and fixed cost means the cost which…

Assume that none of the fixed overhead can be avoided. However, if the robots are purchased from Tienh Inc., Jobs can use the released productive resources to generate additional income of $375,000. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Direct materials Direct labor Variable overhead Fixed overhead Opportunity cost Purchase price Totals $ $ Make $ $ Buy $ $ Net Income Increase (Decrease)

Assume that none of the fixed overhead can be avoided. However, if the robots are purchased from Tienh Inc., Jobs can use the released productive resources to generate additional income of $375,000. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Direct materials Direct labor Variable overhead Fixed overhead Opportunity cost Purchase price Totals $ $ Make $ $ Buy $ $ Net Income Increase (Decrease)

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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From the following information, prepare an Income Statement under: (a) Marginal Costing; (b) Absorption Costing. Particulars Product (RO) X Y Z Direct Material 5,500 20,000 2,000 Direct Wages 7,000 7,000 1,000 Factory Overheads - Fixed 2,000 1,000 1,500 Factory Overheads - Variable 1,900 8,000 2,500 Selling Overheads - Fixed 1,000 500 400 Selling Overheads - Variable 1,000 4,000 1,000 Sales 22,000 41,000 12,000 Fixed factory overhead and fixed selling overhead apportioned to products X, Y and Z on equitable bases.
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Time left 0:56 Which of the following describes a fixed cost? O a. total cost that fluctuates with changes in output. O b. selling, general or administrative cost incurred in a manufacturing company. O c. total cost that remains constant within the relevant range of output. on O d. overhead cost that is incurred in the factory of a manufacturing company. Next page s page 73% 19 FI F3 F4 F5 F6 F7 F8 F10 %23 $4 & 1 2 3 4 7 V E R Y U JA S DCF 1 G Y H iJ K 31 CV) BYNIM
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