From the below given data, which cost has no relationship with the level of output? Type of cost Amounts (OMR) Total cost 6,000 Variable costs 4,000 Semi variable costs 1,000 Fixed cost 1,000 O a. Variable costs b. Semi variable costs Oc. Total cost d. Fixed cost

From the below given data, which cost has no relationship with the level of output? Type of cost Amounts (OMR) Total cost 6,000 Variable costs 4,000 Semi variable costs 1,000 Fixed cost 1,000 O a. Variable costs b. Semi variable costs Oc. Total cost d. Fixed cost

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: a) What effect does an increase in volume on each of the following: 1) Unit fixed costs 2) Unit…

A: Fixed Cost In a simple term fixed cost which describe as cost which was incurred in the entity which…

Q: In describing the cost formula equation, Y = a +bX, which of the following is correct: Multiple…

A: Lets understand the basics.High low method as the name suggest consider highest level of activity…

Q: The following data were provided by Rider, Inc, which produces a single product that it sells for…

A: Absorption costing is that costing system under which product costs includes all manufacturing costs…

Q: Given the following, the only item that will generally be included in relevant cost analysis is:…

A: Introduction: The phrase "relevant cost" in managerial accounting refers to avoidable costs that…

Q: Within the relevant range of activity fixed costs remain constant in total costs and activity can be…

A: A certain activity level that is limited by a minimum and maximum quantity is referred to as the…

Q: Determine the missing amounts in the following table: unit sales price unit varible costs unit…

A: Contribution margin refers to relationship between Sales and Fixed cost plus Profit.

Q: What is the definition of a variable cost? Multiple Choice The total cost (materials, labor, and…

A: The costs incurred for the production are classified as fixed and variable components. The variable…

Q: How would the equation for total costs be written using the following? y = total costs v =…

A: Variable costs are costs that change with change in volume of production . Whereas, Fixed costs…

Q: Classification of costs, manufacturing sector. Fill in the following table by putting an X in th…

A: Material:Nature: Material costs refer to the cost of raw materials, components, or goods that are…

Q: Given the following information, choose the cost and activity that would be used as the high data…

A: Solution... Using the High low method for finding variable cost and the fixed costs the Highest…

Q: 20 Under variable costing, which of the following costs are treated as period costs? Select one:…

A: Direct materialsPRODUCT COSTSDirect laborPRODUCT COSTSVariable manufacturing overheadPRODUCT…

Q: Explain the effect of a decrease in the level of activity (cost driver) on: (i) total fixed cost…

A: Lets understand the basics. Fixed cost are cost which do not change with level of output. In other…

Q: Within a relevant range, costs that increase in direct proportion to volume are: Question 9…

A: Variable costs are proportional to the level of output within a relevant range. On the other hand,…

Q: 2)The contribution-margin ratio is: A) fixed cost per unit divided by variable cost per unit. B)…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Question Content Area Which of the following graphs in Figure 1 illustrates the behavior of a total…

A: Dear student, below is the answer to your question along with a detailed explanation:Part 1:…

Q: 16 Which costs will change with a decrease in activity within the relevant range? Select one: a.…

A: The correct answer is a. Unit fixed cost and total variable costs.Explanation:Understanding how…

Q: For the given cost function C(x) = 28900 + 500x + x², First, find the average cost function. Use it…

A: Average cost function = C(x) / x = (28900+500x+x2)/x

Q: High-low method Evander Inc. has decided to use the high-low method to estimate the total cost and…

A: Variable costs are costs that vary with the change in the level of output whereas fixed costs are…

Q: When using the high-low method to estimate costs, the formula “Change in Cost divided by Change in…

A: The objective of the question is to identify what cost component is estimated using the formula…

Q: All variable costs are listed ________ on a contribution margin income statement. Question 35…

A: This question deals with contribution margin statement. Contribution margin statement is a statement…

Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

From the below given data, which cost has no relationship with the level of output?
Type of cost
Amounts (OMR)
Total cost
6,000
Variable costs
4,000
Semi variable costs
1,000
Fixed cost
1,000
O a. Variable costs
O b. Semi variable costs
OC. Total cost
Od. Fixed cost

Expert Solution

This question has been solved!

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

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

! Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced 0 560 960 123456789 10 1,360 1,760 2,160 2,560 2,960 3,360 3,760 Total Costs $ 4,660 3,960 4,360 4,960 4,060 4,260 8,760 16,160 4,960 11,992 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 2,440 units are produced.
Using the conventional method I got the cost per unit for Product A: 54 GBP and Product B: 110 GBP and using the ABC principles I got the cost for Product A: 80 GBP and for Product B: 63 GBP. What are the causes for any differences in the cost based on obtained results?
On a graph, if a horizontal axis represents units of production and the vertical axis represents total costs, the total variable costs line would be shown as a(n): Question 4 options: horizontal line. vertical line. upward sloping line. downward sloping line.
A graph of which of the following types of costs would have a slope of zero? Total variable cost . Variable cost per unit. Total cost Fixed cost per unit
Within the relevant range, as volume of activity increases a. Total fixed costs remain the sameb. Fixed cost per unit decreasesc. Variable cost per unit remains the samed.Total variable costs increasese. all of the above
Choose the correct letter of answer On a scattergrap, the diagonal line cuts across two sets of observations, namely: 600:200, and 900:500 which refer to costs and units, respectively. The fixed costs is plotted in the graph at P400. In this case, the variable cost per unit is equal to: a. P1.00b. P1.25c. P1.50d. P1.12