Variable cost refers to the costs or expenses incurred by an entity that varies with the level of production output, if there is no production then the variable cost becomes nil, Whereas fixed costs refer to the fixed expenses of the entity which will be necessarily incurred to start the production activity, even at zero level of production, the fixed costs exists and does not become nil. To calculate: a)Total variable costs for the next period. b) Total fixed cost

Question

Want to see the full answer?

Answer 1

Question

Chapter 21, Problem 15E

To determine

Introduction:

Variable cost refers to the costs or expenses incurred by an entity that varies with the level of production output, if there is no production then the variable cost becomes nil,

Whereas fixed costs refer to the fixed expenses of the entity which will be necessarily incurred to start the production activity, even at zero level of production, the fixed costs exists and does not become nil.

To calculate:

a)Total variable costs for the next period.

b) Total fixed cost

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

some expert check this details and give answer short

Need help with this question solution general accounting

Give the Earned Commission

Answer 2

Question

Chapter 21, Problem 15E

To determine

Introduction:

Variable cost refers to the costs or expenses incurred by an entity that varies with the level of production output, if there is no production then the variable cost becomes nil,

Whereas fixed costs refer to the fixed expenses of the entity which will be necessarily incurred to start the production activity, even at zero level of production, the fixed costs exists and does not become nil.

To calculate:

a)Total variable costs for the next period.

b) Total fixed cost

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 21, Problem 15E

To determine

Introduction:

Variable cost refers to the costs or expenses incurred by an entity that varies with the level of production output, if there is no production then the variable cost becomes nil,

Whereas fixed costs refer to the fixed expenses of the entity which will be necessarily incurred to start the production activity, even at zero level of production, the fixed costs exists and does not become nil.

To calculate:

a)Total variable costs for the next period.

b) Total fixed cost

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 21, Problem 15E

To determine

Introduction:

Variable cost refers to the costs or expenses incurred by an entity that varies with the level of production output, if there is no production then the variable cost becomes nil,

Whereas fixed costs refer to the fixed expenses of the entity which will be necessarily incurred to start the production activity, even at zero level of production, the fixed costs exists and does not become nil.

To calculate:

a)Total variable costs for the next period.

b) Total fixed cost

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 21, Problem 15E

To determine

Introduction:

Variable cost refers to the costs or expenses incurred by an entity that varies with the level of production output, if there is no production then the variable cost becomes nil,

Whereas fixed costs refer to the fixed expenses of the entity which will be necessarily incurred to start the production activity, even at zero level of production, the fixed costs exists and does not become nil.

To calculate:

a)Total variable costs for the next period.

b) Total fixed cost

Answer 6

Chapter 21, Problem 15E

To determine

Introduction:

Variable cost refers to the costs or expenses incurred by an entity that varies with the level of production output, if there is no production then the variable cost becomes nil,

Whereas fixed costs refer to the fixed expenses of the entity which will be necessarily incurred to start the production activity, even at zero level of production, the fixed costs exists and does not become nil.

To calculate:

a)Total variable costs for the next period.

b) Total fixed cost

Answer 7

Chapter 21, Problem 15E

To determine

Introduction:

Variable cost refers to the costs or expenses incurred by an entity that varies with the level of production output, if there is no production then the variable cost becomes nil,

Whereas fixed costs refer to the fixed expenses of the entity which will be necessarily incurred to start the production activity, even at zero level of production, the fixed costs exists and does not become nil.

To calculate:

a)Total variable costs for the next period.

b) Total fixed cost

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 21 - Cost behavior identification C1 Listed here are...Ch. 21 - QS 21-2 Cost behavior identification c1 ...Ch. 21 - QS 21-3 Cost behavior estimation—high-low method...Ch. 21 - Prob. 4QS Ch. 21 - Prob. 5QS Ch. 21 - Prob. 6QS Ch. 21 - Prob. 7QS Ch. 21 - Prob. 8QS Ch. 21 - Prob. 9QS Ch. 21 - Prob. 10QS

Want to see the full answer?

Chapter 21 Solutions