Find estimated total costs for production level... Total costs were $76,900 when $28,000 unitswere produced and $93,000 when $35,000 unitswere produced. Use the high low method to findthe estimated total costs for production level at32,000 units.

Step 1: Define Classifying CostsOne way to classify costs is as either variable, fixed, or mixed.…

Answered: Total costs were $76,900 when $28,000…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 5EA: Rose Company has a relevant range of production between 10,000 and 25.000 units. The following cost...

See similar textbooks

Similar questions

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?
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
Based on the High-Low method, what is the total production costs if 6,500 units are produced?
The company has the following data: Fixed product cost is 10,000; Total Variable cost is 50,000; Variable selling expenses is 5,000; Fixed selling expense of 4,000; Fixed admin expenses is 8,000 and Direct materials is 20,000. Compute the total cost
A company had income of P50,000 using variable costing for a given period. Beginning and ending inventories for that period were 13,000 units and 18,000 units, respectively. Ignoring income taxes, if the fixed overhead application rate were P2.00 per unit, what would the income have been using 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 O b. OMR6,400 O c. OMR25,000 O d. OMR23,400 O e. OMR10,900
The total prime cost of a product was OMR6,000. The variable manufacturing overhead is Calculated based on the nomber of direct labor hours. The variable manufacturing overhead cost per hour is twice the direct fabor cost per hout The flued manufacturing overhead was OMRS.000. Assuming that ditect labor hours were 650 and that the direct labor cost was 20% of direct materials cost how much is the total manufacturing cost? Select one: Oa OMR8.000 O b. OMR13.000 OOMR18000 O d. OMR23.000 2 OMR1,000 Time left 1:19:39
Solution
Kluber, Inc. had net income of $918,000 based on variable costing. Beginning and ending inventories were 56,800 units and 55,600 units, respectively. Assume the fixed overhead per unit was $2.15 for both the beginning and ending inventory. What is net income under absorption costing?
The total prime cost of a product was OMR8,400. The variable manufacturing overhead is calculated based on the number of direct labor hours. The variable manufacturing overhead cost per hour is three times the direct labor cost per hour. The fixed manufacturing overhead was OMR5,500. Assuming that direct labor hours were 700 and that the direct labor cost was 40% of direct materials cost, how much is the total manufacturing cost? Select one: O a. OMR17,100 O b. OMR33,600 Oc. OMR39,100 O d. OMR21,100 O e. OMR13,900
Sierra Company produces its product at a total cost of $120 per unit. Of this amount, $40 per unit is selling and administrative costs. The total variable cost is $96 per unit, and the desired profit is $24.00 per unit. Determine the markup percentage using the (a) total cost, (b) product cost, and (c) variable cost methods. Round your answers to one decimal place. a. Total cost b. Product cost c. Variable cost % % %

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

Total costs were $76,900 when $28,000 units were produced and $93,000 when $35,000 units were produced. Use the high low method to find the estimated total costs for production level at 32,000 units.