Question 1: The Information below is taken from production department of MSS Company for April:The number of units produced is 10000. All amounts are in $. Total CostsVariable CostFixed CostDirect material cost500000? ?Total labor cost?400000100000Manufacturing Overhead90000 30000?Calculate: Find the missing information in the above table. Some values may not be applicable, explain.Calculate cost per unitDescribe the production costs in the equation form Y = f + vX.Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month

Variable cost means the cost which vary with the level of output and fixed cost means the cost which…

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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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Question 1: The Information below is taken from production department of MSS Company for April:

The number of units produced is 10000. All amounts are in $.

	Total Costs	Variable Cost	Fixed Cost
Direct material cost	500000	?	?
Total labor cost	?	400000	100000
Manufacturing Overhead	90000	30000	?

Calculate:

Find the missing information in the above table. Some values may not be applicable, explain.
Calculate cost per unit
Describe the production costs in the equation form Y = f + vX.
Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month

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