General Accounting Quesiton Question: Production costs were $128,500at 45,000 units and $163,000 at 58,000units. Using the high-low method, calculatethe estimated total costs for producing50,000 units.

Step 1: Step 1: Definition of the High-Low MethodThe High-Low Method is a cost estimation technique…

Answered: Question: Production costs were…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

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The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
Rose Company has a relevant range of production between 10,000 and 25.000 units. The following cost data represents average cost per unit for 15,000 units of production. Using the cost data from Rose Company, answer the following questions: If 10,000 units are produced, what is the variable cost per unit? If 18,000 units are produced, what is the variable cost per unit? If 21,000 units are produced, what are the total variable costs? If 11,000 units are produced, what are the total variable costs? If 19,000 units are produced, what are the total manufacturing overhead costs incurred? If 23,000 units are produced, what are the total manufacturing overhead costs incurred? If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If 25,000 units are produced, what are the per unit manufacturing overhead costs incurred?
Suppose that a company has fixed costs of $11 per unit and variable costs $6 per unit when 11,000 units are produced. What are the fixed costs per unit when 20,000 units are produced?
Question: Production costs were $128,500 at 45,000 units and $163,000 at 58,000 units. Using the high-low method, calculate the estimated total costs for producing 50,000 units.
Within a relevant range of 10,000 units - 50,000 units, consider the following information: At a volume of 20,000 units, fixed expenses per unit = $12.50. At a volume of 25,000 units, average cost = $18.00 per unit. Compute average cost per unit at a volume = 40,000
Based on the High-Low method, what is the total production costs if 6,500 units are produced?
Current production volume = 20,000 units. However, theoretical capacity 25,000 units, the company is using the current production volume as practical capacity. Furthermore, practical capacity serves as the denominator volume cost estimation, Consider the following costs: Direct material: $240,000, direct labor: $160,000, variable overhead: $5.00 per unit. Traceable fixed overhead: $6,00 per unit, and allocated fixed overhead: $20,000. Compute per unit average cost of production. O $11.00 O $20.00 $32.80 O None of the above are correct
Complete the following manufacturing cost schedule (a through j) for Lazer Tag. Parts Produced 50,000 100,000. TOTAL COSTS: Variable $75,000 $150,000. Fixed ..
Net income under variable costing is P 30,000. Data shows: the total manufacturing cost per unit is P 20; total variable cost per unit is P 15 per unit and variable period cost is P 3 per unit. Beginning and ending inventories are 1,000 units and 1,500 units, respectively. What is the income under absorption costing?
The total prime cost of a product was OMR3,900. The variable manufacturing overhead is calculated based on the number of direct labor hours. The variable manufacturing overhead cost per hour is five times the direct labor cost per hour. The fixed manufacturing overhead was OMR2,500. Assuming that direct labor hours were 400 and that the direct labor cost was 30% of direct materials cost, how much is the total manufacturing cost? Select one: O a OMR25,900 Ob. OMR23,400 O COMR6,400 d. OMR10,900 e. OMR25,000
Find estimated total costs for production level...
Given the cost formula, Y = $16,000+ $3.40X, total cost for an activity level of 4,000 units would be: A) S13,600 B) S3,600 C) $29,600 D) S16,000

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Question: Production costs were $128,500 at 45,000 units and $163,000 at 58,000 units. Using the high-low method, calculate the estimated total costs for producing 50,000 units.