Justine Co. produced 5,500 outdoor chairs for Job Order No. 616. Total material cost was P 51,700, Each chair required 2.2 hours of direct labor at P8.90/ hour. A total of P 53,845 of factory overhcad was traced to Order 610. 28. What is the prime cost per unit of this order? a. P 19.58 b. P 28.98 c. P 29.37 d. P 38.77

Q: How do you calculate contribution margin?

A: The contribution margin can be calculated by deducting the variable cost from the sales revenue.

Q: What is cost-allocation base? Give three examples?

A: Costing: Costing is a technique used in cost accounting to determine the cost of a product. With the…

Q: how do I find direct cost per unit

A: Direct Cost A direct cost is a price that is directly associated with the production of particular…

Q: What are the formulas for: 1. Contribution Cost 2. Break even cost

A: Cost refers to the expense that is incurred for making the goods or providing services by the…

Q: How was total cost (a) found for #1?

A: Total cost for any product or service is calculating by taking sum of variable cost of the total…

Q: Is there a difference between relevant costs and incremental costs? Explain

A: Relevant cost: Relevant cost is the cost which is relevant in decision making of a project, and…

Q: what are the differences between the FIFO, LIFO, and the average cost?

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: What is the difference between a linear and a nonlinear cost function? Give an example of each type…

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: Why cant prime cost be added to conversion cost to get total product cost?

A: Product Costs: Product costs are the costs that are incurred to produce a product or providing a…

Q: Please explain the calculation of Unit contribution

A: Unit Contribution margin is contribution margin earned per unit It is calculated in 2 ways  Unit…

Q: Describe the Unit-Profit or Unit-Cost Calculation?

A: A unit cost is a net expense a firm has incurred to manufacture, store, and sell one unit of a…

Q: what would be the difference in gross margin between fifo and lifo cost flow assumptions

A: The difference in gross margin between FIFO (First-In, First-Out) and LIFO (Last-In, First-Out) cost…

Q: How to calculate total prime cost

A: Meaning of Prime Cost: Prime costs are a firm's expenses directly related to the materials and labor…

Q: What are “initial direct costs” and how are they accountedfor?

A:

Q: How is conversion costs per equivalent unit calculated?

A: The cost per unit is calculated as total cost divided by number of units.