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Gibson Company's cost and production data for two recent months included the following: April 1,000 $2,300 $1,143 Production (units) Rent Utilities March 700 $2,300 $ 800 Required a. Separately calculate the rental cost per unit and the utilities cost per unit for both March and April. b. Identify which cost is variable and which is fixed.

Gibson Company's cost and production data for two recent months included the following: April 1,000 $2,300 $1,143 Production (units) Rent Utilities March 700 $2,300 $ 800 Required a. Separately calculate the rental cost per unit and the utilities cost per unit for both March and April. b. Identify which cost is variable and which is fixed.

FINANCIAL ACCOUNTING
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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Gibson Company's cost and production data for two recent months included the following: March April 700 1,000 $2,300 $2,300 $ 800 $1,143 Production (units) Rent Utilities Required a. Separately calculate the rental cost per unit and the utilities cost per unit for both March and April. b. Identify which cost is variable and which is fixed. Complete this question by entering your answers in the tabs below. Required A Required B Separately calculate the rental cost per unit and the utilities cost per unit for both March and April. (Round your answers to 2 decimal places.) Rent cost per unit Utility cost per unit March April
Transcribed Image Text:Gibson Company's cost and production data for two recent months included the following: March April 700 1,000 $2,300 $2,300 $ 800 $1,143 Production (units) Rent Utilities Required a. Separately calculate the rental cost per unit and the utilities cost per unit for both March and April. b. Identify which cost is variable and which is fixed. Complete this question by entering your answers in the tabs below. Required A Required B Separately calculate the rental cost per unit and the utilities cost per unit for both March and April. (Round your answers to 2 decimal places.) Rent cost per unit Utility cost per unit March April
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