Compute for:1. Variable manufacturing cost per unit Given the following facts, complete the requirements below:Sales priceFixed costs:P200 per unitMarketing and administrativeManufacturing overhead24,000 per period30,000 per periodVariable costs:Marketing and administrativeManufacturing overheadDirect labor6 per unit9 per unit30 per unit60 per unit1,200 per periodDirect MaterialsUnits produced and sold

Ans. Variable cost refers to the cost that varies with the level of production eg. cost of raw…

Answered: Given the following facts, complete the…

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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When using the high-low method to estimate costs, the formula “Change in Cost divided by Change in Units” (or “Change in Total Cost divided by Change in Activity Level”) is used to estimate the: Fixed cost per unit Mixed cost per unit Profit per unit Indirect cost per unit Variable cost per unit Differential cost per unit Opportunity cost per unit
The background info is provided in the image attached. Solve the following: a) Classify each cost element as either fixed, variable, or mixed. b) Calculate:i) the variable production cost per unit and the total fixed production overhead. ii) The total variable cost per unit and the total fixed costsHint: Use the high-low method to separate mixed costs into their fixed and variable components.
2. The following total cost graphs indicate which type of cost behavior? A. VARIABLE COST B. FIXED COST C. MIXED COST D. STEP COST
unit cost under variable costing.
4. In a typical cost formula a. Fixed costs are per unit and variable costs are per unit b. Fixed costs are per unit and variable costs are in total c. Fixed costs are in total and variable costs are in total Fixed costs are in total and variable costs are per unit
what is the weighted average cost per unit
calculate unit costs and create cost reconcilliation
With respect to cost classifications for manufacturers:a. What is the total manufacturing cost?b. What is the total nonmanufacturing cost?c. What is the total conversion cost and prime cost?
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
The equation for total costs (Y) is: Y = a+ bX In this equation, “a” represents: Net income Cost of goods sold Total fixed costs The level of activity (e.g., the number of units produced) Total variable costs Variable cost per unit of X Total revenue
1. Which of the following formulas is used to calculate break-even units? 1. Fixed Costs - Unit Contribution Margin 2. Variable Costs Contribution Margin Percent 3. Variable Costs + Unit Contribution Margin 4. Fixed Costs + Contribution Margin Percent
Classify each cost element as either fixed, variable or mixed Calculate: the variable production cost per unit and the total fixed production overhead Calculate the total variable cost per unit and the total fixed costs

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Given the following facts, complete the requirer Sales price Fixed costs: P200 Marketing and administrative Manufacturing overhead 24, 30, Variable costs: Marketing and administrative Manufacturing overhead Direct labor 6 p 9p 30 р 60 p Direct Materials 1 200 Units nreduced and sold