Using the high-low method, determine the cost function for each cost?

Q: ost flow methods and assumptions. What

A: The different cost flow methods and assumptions are as follows: FIFO LIFO Weighted average

Q: Explain the difference between total variable costs and variable costs per unit.

A: Cost can be categorized as variable and fixed costs.

Q: Give some examples of Fixed Costs?

A: Fixed costs: Fixed costs are those costs which remain unchanged even there is a change in the…

Q: a = Fixed production costs per month = Variable production costs per direct labor hour = Number of…

A: High-low method is one of the techniques that is used to separate fixed and variable components…

Q: What are the formulas for: 1. Contribution Cost 2. Break even cost

A: Cost refers to the expense that is incurred for making the goods or providing services by the…

Q: A total cost equation can be used to predict future costs for various activity levels. Write the…

A: Concept The total cost is the sum of variable cost and fixed cost incurred For example if variable…

Q: еВook Print Item Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 20Y1…

A: Absorption costing incorporates the entirety of the immediate expenses related with assembling an…

Q: Explain the difference between fixed cost and variable cost? Support your answer with examples

A: Cost:   It is the economic value of resources incurred by a firm to manufacture a product or render…

Q: How would i find the variable cost per unit?

A: Variable costs: Variable costs refers to those costs that change in proportion, with the change in…

Q: 3. Why there is a need to identify the standard cost?

A: Standard cost is the estimated cost of a certain process, resource or any item.

Q: Using the high-low method, determine the cost function for each cost.

A:

Q: what are the differences between the FIFO, LIFO, and the average cost?

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: What are the different types of cost?

A: Costs refer to any expenditure done by a business or a firm in the process of production of a…

Q: Explain average cost method.

A: Average cost method: Under average cost method inventories are priced at the average of all…

Q: he total mixed cost function

A: Mixed cost is a cost that contains both fixed and variable cost.Mixed cost algebric formula is as…

Q: Q- 8: opportunity cost, and sunk cost. Define the following terms: differential cost,

A:

Q: What is the difference between a linear and a nonlinear cost function? Give an example of each type…

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: Select all of the following that are the same as a relevant cost: unavoidable cost Oavoidable cost…

A: Relevant cost is a cost that is specifically relevant to a particular decision being made. It is a…

Q: Types of Fixed and Variable cost with the help of example and graph?

A: Costs are the total spent amount for the expenditures and for producing the goods and services.…

Q: determine the variable cost per unit and the fixed cost using the high -low method.

A: Variable Costs :- Variable costs are expenses that vary depending on the volume of goods or services…

Q: what is weighted average cost method?

A: The weighted average cost method is one of the methods to ascertain the unit cost of a product. It…

Q: Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic…

A: Fixed costs: These are costs which are incurred irrespective of the production or sale activities.…

Q: What is this cost allocation?

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: Direct material used Direct labor Variable manufacturing overhead Fixed manufacturing overhead…

A: Formula: Per Unit cost = Direct materials + Direct labor + Variable manufacturing overhead + Fixed…

Q: Business Solutions sells upscale modular desk units (60% of sales) and office chairs (40% of sales).…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Explain an example of fixed cost.

A: Cost:   It is the economic value of resources incurred by an organization for producing a product or…

Q: What is a relationship between fixed, variable and semi-variable cost?

A: Cost can be defined as the amount incurred upon the production of goods and services for the final…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.