XY Constructions began construction work under a three-year contract. The contract price was P700,000. XY uses the percentage of completion method for financial accounting purposes. The financial statement presentation relating to this contract at December 31, 20x1 is presented below: Balance Sheet 26,250 Accounts receivable - construction billings Construction in progress Less: Contract billings 87,500 82,250 5,250 Income Statement Income before tax on the contract recognized in 20x1 17,500

Q: Which of the following would be included in the cost of a product manufactured according to variable…

A: Variable costing: Variable costing is a method that considers only the variable cost and ignores all…

Q: Weighted-average unit cost

A: Weighted average unit cost is the per unit cost which is calculated dividing the total value of…

Q: how do I find direct cost per unit

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Q: Based on the behavior shown in the following table, which of the following is a variable cost? Units…

A: VARIABLE COST Variable Cost is a cost that varies with the level of output.variable costs include…

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A: Introduction:   The phrase "relevant cost" in managerial accounting refers to avoidable costs that…

Q: What is the relationship between total carrying cost and totalordering cost at the EOQ?

A: It indicates an inverse relationship between the cost of ordering and the cost of holding at…

Q: When computing the cost per equivalent unit the weighted-average method of process costing, the cost…

A: Weighted Average Method :— Under this method, equivalent units is calculated by adding equivalent…

Q: a predetermined application rate for conversion costs is based on actual conversion costs divided by…

A: Conversion costs are costs that are incurred for converting raw materials of the business into…

Q: Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are…

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Q: Calculate the total absorbtion rate used to apportion manufacturing overhead by?

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Q: Which of the following formulae is used to calculate the cost per equivalent unit of production…

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A: The high-low method is a cost analysis technique that calculates the variable and fixed components…

Q: Please explain the calculation of Unit contribution

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Q: Describe at a high level the various cost categories and expenditures.

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Q: How can we calculate the Total Present Cost for the Base Case and Alternative?

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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.