SFollowing are costs for eight different items. Costs are shown for three different levels of units produced and sold. Classify each of theeight cost items as either variable, fixed, or mixed.Costs for Different Levels of Units Produced and SoldDirect laborDepreciation on factory equipmentDirect materialsRent on factory buildingSalesperson compensation.Factory supervisor salaryFactory utilitiesInsurance on factory buildingDirect laborDepreciation on factory equipmentDirect materialsRent on factory buildingSalesperson compensationFactory supervisor salaryFactory utilitiesInsurance on factory buildingAt e units$ 0At 2,000 units$ 10,000At 4,000 units$ 20,0003,0003,0003,00006,00012,0001,0001,0001,0003,0003,0004,0004,0004,0004,000100500700800800800

The objective of the question is to classify the given costs into variable, fixed, or mixed based on…

Answered: S Following are costs for eight…

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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Which of the following costs at a manufacturing company would be treated as a product cost under variable costing? Multiple Choice direct material cost property taxes on the factory building sales manager's salary sales commissions
The following figure depicts the complete system that Office Inc. uses to estimate the total cost of each office desk and office chair that it produces. How many cost pools does Office Inc.'s 2-stage costing system use for Office Chair objects? A. 7 B. 0 C. 6 D. 5 E. 4 F. 2 G. 1 H. 3 I. 8
2. Austin Electronics manufactures two large-screen television models: the Royale, which sells for $1,600, and a new model, the Majestic, which sells for $1,300. Few per unit cost data are given: Traditional Costing DM Royale $850 Majestic $570 DL ($20 per hour) MOH ($38 per DLH) $140 $248 $100 $190 In 2017, Austin manufactured 25,000 units of the Royale and 10,000 units of the Majestic. The overhead rate of $38 per direct labor hour was determined by dividing total expected manufacturing overhead of $7,600,000 by the total direct labor hours (200,000) for the two models. Management is considering phasing out the Royale model (comparatively low profit) and increasing the production of the Majestic model Before finalizing its decision, management asks Austin's controller to prepare an analysis using activity-based costing (ABC). The controller accumulates the following information about overhead for the year ended December 31, 2017. Est. Overhead Activity | Level 40,000 18,000…
what is the labor-related activity cost pool per DLH what is the machine-related activity cost pool per MH what is the machine setups activity cost pool per seteup what is the production orders activity cost per order what is the product testing activity cost per test what is the packaging activity cost per package what is the general factory activity cost per DLH
Following are costs for eight different items. Costs are shown for three different levels of units produced and sold. Classify each of the eight cost items as either variable, fixed, or mixed. Costs for Different Levels of Units Produced and Sold Direct labor Depreciation on factory equipment Direct materials. Rent on factory building Salesperson compensation Factory supervisor salary Factory utilities Insurance on factory building Direct labor Depreciation on factory equipment Direct materials Rent on factory building Salesperson compensation Factory supervisor salary Factory utilities Insurance on factory building At 0 units $0 6,800 0 4,800 6,800 7,800 480 1,750 At 2,000 units At 4,000 units $ 13,800 6,800 $ 27,600 6,800 19,600 4,800 9,800 7,800 7,800 1,080 1,750 4,800 6,800 7,800 880 1,750 2
24: Seat Belt Inc., produces three sizes of seat belts: small, medium, and large. A seat belt pattern is first stenciled onto fabric in the Pattern Department. The stenciled patterns are then sent to the Cut and Sew Department, where the seat belt is cut and sewed together. Seat Belt Inc. uses the multiple production department factory overhead rate method of allocating factory overhead costs. Its factory overhead costs were budgeted as follows: Overhead Dollars Direct Labor Hours Pattern Department: Cut and Sew Department Overhead: 40,000 dh 60,000 dlb $300,000 $600,000 $900,000 Totals: 100,000 The Company decides to use the Multiple Department Overhead method, and Direct Labor Hours are used to allocate the overhead. We know the following for each type of seatbelt: Small Medium 1.0 dlh 1.5 dlb 2.5 dlh Large 2.0 dlh 3.0 dlb 5.0 dla Pattern Department: Cut and Sew Department: 1.5 dla 2.5 dlh 4.0 dlk Total Per Unit Part I: Calculate the Departmental Factory Overhead Rate for each…
A Corporation uses activity-based costing to assign overhead costs to products. Overhead costs have already been allocated to the company's three activity cost pools as follows: Machining, $12,100; Order Filling, $16,800; and Other, $13,500. Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity data appear below:ICO/4243 0 MHS (Machining) 5,800 4,200 Product P17 Product V29 Q. What is the overhead cost assigned to Product P17 under activity-based costing? Answer. (Click to select) (Click to select) None of the answers are correct. $10,122 $12,058 $16,842 $18,778 Orders (Order Filling) 300 700
Required: Determine the unit product cost of each of the company's two products under activity-based costing system.
Study the information provided below and calculate the following:3.1 Manufacturing costs per unit for each product using the traditional absorption costing system 3.2 Manufacturing overheads cost per unit for each product using the ABC system

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