Answered: Vogel Inc. manufactures memory chips…

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

Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 114,000 to 182,400 memory chips per year. Within this range, the following partially completed manufacturing cost schedule has been prepared:

Components produced	114,000	144,000	182,400
Total costs:
Total variable costs . . . . . . . . .	$49,020	(d)	(j)
Total fixed costs . . . . . . . . . . . .	54,720	(e)	(k)
Total costs . . . . . . . . . . . . . . . . .	$103,740	(f)	(l)
Cost per unit:
Variable cost per unit . . . . . . .	(a)	(g)	(m)
Fixed cost per unit . . . . . . . . . .	(b)	(h)	(n)
Total cost per unit . . . . . . . . . .	(c)	(i)	(o)

Complete the cost schedule below. When computing the cost per unit, round to two decimal places. Round all other values to the nearest dollar.

Cost Report
Components produced		114,000		144,000		182,400
Total costs:
Total variable costs		$49,020	(d)	$fill in the blank 1	(j)	$fill in the blank 2
Total fixed costs		54,720	(e)	fill in the blank 3	(k)	fill in the blank 4
Total costs		$103,740	(f)	$fill in the blank 5	(l)	$fill in the blank 6
Cost per Unit
Variable cost per unit	(a)	$fill in the blank 7	(g)	$fill in the blank 8	(m)	$fill in the blank 9
Fixed cost per unit	(b)	fill in the blank 10	(h)	fill in the blank 11	(n)	fill in the blank 12
Total cost per unit	(c)	$fill in the blank 13	(i)	$fill in the blank 14	(o)	$fill in the blank 15