Question 5:The Information below is taken from production department of Salalah Company for April:The number of units produced is 10060. All amounts are in OMR.|Total Costs|500000Variable Cost?| 400000Fixed Cost|Direct material cost|Total labor cost|Manufacturing Overhead?1000009000030000Calculate:A. Find the missing information in the above table. Some values may not be applicable, explain.B. Calculate cost per unitC. Describe the production costs in the equation form Y =f+ vX,D. Assume Salalah intends to produce 10000 units next month. Calculate total production costsfor the month

As per formula, Total production cost= (Variable cost per unit × number of units) + Fixed cost

Total Costs 500000 Variable Cost Fixed Cost |Direct material cost Total labor cost | Manufacturing Overhead 400000 100000 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y f+ vX, D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month

Total Costs 500000 Variable Cost Fixed Cost |Direct material cost Total labor cost | Manufacturing Overhead 400000 100000 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y f+ vX, D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month

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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