Base from the data, determine the correct cost classifications: Cost ltem Cost at 100 units Cost at 140 units P P8,000 P10,560 L P5,000 P5,000 A P6,500 P9,100 Y P6,700 P8,580 Cost P Cost L Cost A Cost Y A. variable fixed mixed variable B. variable fixed variable variable C. mixed fixed mixed mixed D. mixed fixed variable mixed

Base from the data, determine the correct cost classifications: Cost ltem Cost at 100 units Cost at 140 units P P8,000 P10,560 L P5,000 P5,000 A P6,500 P9,100 Y P6,700 P8,580 Cost P Cost L Cost A Cost Y A. variable fixed mixed variable B. variable fixed variable variable C. mixed fixed mixed mixed D. mixed fixed variable mixed

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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10 Ritchie Manufacturing Company makes a product that it sells for $160 per unit. The company incurs variable manufacturing costs of $84 per unit. Variable selling expenses are $12 per unit, annual fixed manufacturing costs are $470,000, and fixed selling and administrative costs are $208,400 per year. Required Determine the break-even point in units and dollars using each of the following approaches: Skipped a. Use the equation method. b. Use the contribution margin per unit approach. c. Use the contribution margin ratio approach. d. Prepare a contribution margin income statement for the break-even sales volume.
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A cost that has characteristics of both a variable cost and a fixed cost is called a Oa. variable/fixed cost Ob. sunk cost Oc. discretionary cost Od, mixed cost
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