Relevant range and fixed and variable costsVogel Inc. manufactures memory chips for electronic toys within a relevant range of 45,000 to 75,000 memory chips per year. Within this range, the following partially completedManufacturing cost schedule has been prepared Components produced45,00060,00075,000Total costs:Total variable costs$ 1,350,000(d)()Total fixed costs810000(e)(k)Total costs..$2,160000(f)(1)Cost per unit:Variable cost per unit(a)(g)(h)(m)Fixed cost per unit(b)(n)Total cost per unit(c)(i)(o)Complete the cost schedule, identifying each cost by the appropriateletter (a) through (o).

(1) Fixed Cost : The Total Fixed Cost is the cost that will remains same at all levels of output.…

Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 45,000 to 75,000 memory chips per year. Within this range, the following partially completed Manufacturing cost schedule has been prepared

Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 45,000 to 75,000 memory chips per year. Within this range, the following partially completed Manufacturing cost schedule has been prepared

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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Concept explainers

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.

Question

Relevant range and fixed and variable costs
Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 45,000 to 75,000 memory chips per year. Within this range, the following partially completed

Manufacturing cost schedule has been prepared

Components produced
45,000
60,000
75,000
Total costs:
Total variable costs
$ 1,350,000
(d)
()
Total fixed costs
810000
(e)
(k)
Total costs..
$2,160000
(f)
(1)
Cost per unit:
Variable cost per unit
(a)
(g)
(h)
(m)
Fixed cost per unit
(b)
(n)
Total cost per unit
(c)
(i)
(o)
Complete the cost schedule, identifying each cost by the appropriate
letter (a) through (o).

Definition Definition Total cost of procuring or producing a product or the cost that an individual or business owner undertakes for the manufacturing of goods.

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