What are the total fixed costs on these general accounting question? Using the High Low method, compute the following items using the databelow.Months Total Cost ($) Units ProducedJanuary 888,000280,000February 1,350,000 500,000March 825,000250,000April930,000300,000May720,000200,000What are the total fixed costs?a. $1,350,000.b. $300,000.c. $350,000.d. None of the above.

Step 1: Define Cost AccountingKeeping track of and calculating the costs involved in producing…

Answered: Using the High Low method, compute the…

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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Use the data to prepare the cost statement and Income statement by use the Total cost and Variable Cost. Production capacity (6000 ) unit, direct materials (35000 )D. Indirect materials ( 15000 )D., direct wages ( 25 000 )D., Indirect wages (30000 )D. direct expenses ( 25000 )D., Indirect expenses ( 30 000 )D.[ 10000 V., 20000 F.). direct marketing cost (13000 )D. Indirect marketing cost ( 12000 )D.( 10000 V. 2000 F. ). Administration cost (22000 )D., number of F.G.L (1000 )unit . The selling price ( 2500 )D., to unit.
5. Calculate the direct material from the following information: Direct expenses RO 90,000, Direct labor RO 20,000, manufacturing overheads RO 30,000 and prime cost RO 170,000. a.RO 21,000 b.RO18,000 c.RO 60,000 d.RO 20,000 6. Which of the following are used for calculating economic order frequency? i. Total annual consumption ii. No of order per year iii. Buying cost per order iv. 365 days a.i and ii b.ii and iv c.iii and iv d.i and iv
Assume the following information:VolumeTotal Cost100 units$1,30090 units1,500106 units1,750What is the variable cost per unit? (Round answer to three decimal places.)a. $28.125b. $15.625c. $20.178d. $13.175
Given the cost formula, Y = $16,000+ $3.40x, total cost for an activity level of 4,000 units would be: A. $13,600 OB. $3,600 C. $29,600 O D. $16,000
clarks Ltd uses the following cost function: Y = $7000 + $8.50X. If the number of units produced in a month is 200, what would be the total cost? a) $7,170 b) $7008.50 c) $8,700 d) $7,800
Global Publishers has collected the following data for recent months: Month March April May June Issues published 20,500 21,800 17,750 21,200 Total cost Variable cost per unit $ Total fixed costs $ Required: a. Using the high-low method, find variable cost per unit, total fixed costs, and the total cost equation. Round the variable cost to two decimal places. $20,960 22,464 18,495 21,395 per unit Total cost = $ x Number of issues published) b. What is the estimated cost for a month in which 19,000 issues are published?
Use the data to prepare the cost statement and income statement by use the variable cost . The production capacity ( 8 000 )unit , the seal price ( 2000 ) to unit . Direct materials ( 176000) Direct wages ( 128000 ). Direct expenses ( 132000 ) Indirect expenses ( 132000 ). ( 100 000 v. , 32 000 f. ). Marketing cost v. ( 100 000 )D. Administration cost 60000 D. Indirect marketing f. ( 100 000). The balance of f. g. f. ( 2500 ) unit , and the balance of f. g. l. ( 1000 ) unit . The number of sales unit ( ? ) unit
Given the linear relation: (80x-4C+2200 = 0) Ifx represents the number of units produced of a certain commodity, and C is the total weekly costs.What are the fixed weekly costs and the unit cost? a. Fixed costs: $2200 per week. Cost per unit: $800 b. Fixed costs: $2200 per week. Cost perunit: $4c. Fixed costs: $550 per week. Cost per unit:$20 d. Fixed costs: $20 per week. Cost per unit:$550
Based on analyzing the production.cost (Y) to units produced (X), the following relationship was found Y= S5000 - 520X The $5.000 in the equarion represents Select one Oa. Varlable production.costs per unit. లీ D- 78ed Drodocs on ఉంక ఏ01 Ur 2 ENone.of the anawers given d. Total variable production costs. Oe.Total fixed production costs
Identifying the Parts of the Cost Formula; Calculating Monthly, Quarterly, and Yearly Costs Using a Cost Formula Based on Monthly Data Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $209,000 + ($82 x Direct Labor Hours) Required: 1. Select the term in the right column that corresponds to the term in the left column. Overhead cost Dependent variable v $209,000 Fixed cost (intercept) v $82 Variable rate (slope) Direct labor hours Independent variable v 2. If next month's budgeted direct labor hours equal 19,000, what is the budgeted overhead cost? 1,767,000 V 3. If next quarter's budgeted direct labor hours equal 95,000, what is the budgeted overhead cost? 4. If next year's budgeted direct labor hours equal 380,000, what is the budgeted overhead cost? $
According to following information, which of the following is the total cost function in the form of Y = F+V*X? Number of units produced is 18,000. Fixed Variable Total Cost Cost Costs Material used in Production 88,000 40,000 128,000 Labour used in Production 42,000 38,500 80,500 Production Facilities cost 37,000 167,000 108,000 275,000 29,500 66,500 TOTAL COST Select one: O a. Y = 275,000+V*108 O b. Y = 167,000+V*18 O CY = 167,000+V*6, O d.Y = 108,000+V*275 e to search F10 D Gy H i BY NT M
What type of cost exhibits the behavior shown below? Manufacturing Volume (Units) Cost Per Unit 50,000 $1.95 70,000 1.95 Select one: a. Discretionary fixed cost b. Step-fixed cost. c. Semivariable cost.d. Variable cost. e. Fixed cost

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