Identify Cost GraphsThe following cost graphs illustrate various types of cost behavior:Cost Graph OneCost Graph Two0Total Units Produced0Total Units ProducedCost Graph ThreeCost Graph Four0Total Units ProducedTotal Units Produced For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases:a. Total direct materials costb. Electricity costs of $1,000 per month plus $0.10 per kilowatt-hourc. Per-unit cost of straight-line depreciation on factory equipmentd. Salary of quality control supervisor, $20,000 per monthe. Per-unit direct labor cost

a. Total direct material cost- It will be Cost graph four as per the question, because with each…

Answered: Identify Cost Graphs The following cost…

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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Greek Manufacturing Company produces and sells a line of product that are sold usually all year round. The company has a maximum production capacity of 100,000 units per year. Operating at normal capacity, the business eamed Operating Income of $600,000 in 2020. The following cost data has been prepared for the year ended December 31, 2020. Selling price per unit.. Production Costs: Direct Materials Direct Labour Variable Manufacturing Overhead Fixed Manufacturing Overhead.. Fixed Selling & Administrative Expenses.. Variable selling expense per unit $50.00 $10.00 $8.00 $7.00 $450,000 $300,000 $10.00 Required:
When using the high-low method to estimate costs, the formula “Change in Cost divided by Change in Units” (or “Change in Total Cost divided by Change in Activity Level”) is used to estimate the: Fixed cost per unit Mixed cost per unit Profit per unit Indirect cost per unit Variable cost per unit Differential cost per unit Opportunity cost per unit
Identify the cost graph that best illustrates its cost behavior as the number of units produced increases
• The unit cost… a. is the total conversion costs divided by the number of units produced. b. is the total product costs divided by the number of units produced. c. product plus period cost d. is the total prime costs divided by the number of units produced. e. includes period costs.
Variable Costing, Absorption Costing
All variable costs are listed ________ on a contribution margin income statement. Question 35 options: below the gross profit line below the contribution margin line above the gross profit line above the contribution margin line
Break-even is the number of units at which? a. total revenue equals price times quantity b. total revenue equals total variable cost c. total revenue equals total fixed cost d. total revenue equals total cost
From the below given data, which cost has no relationship with the level of output? Type of cost Amounts (OMR) Total cost 6,000 Variable costs 4,000 Semi variable costs 1,000 Fixed cost 1,000 O a. Variable costs O b. Semi variable costs OC. Total cost Od. Fixed cost
On a cost-volume-profit graph, the revenue line will be shown below the total expense line for any activity level above the break-even point. FALSE O TRUE
Question 1 On the cost-volume-profit graph, the area between the total cost line and the sales line before the break-ever represents:
Question 1 Answer: Question 2 a Total Manufacturing Costs: Variable Fixed Factory Overhead Total Cost Per Unit b Markup Percentage % Seling Price
Question A(iii) and B please

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