What is the variable cost and indirect cost?
Q: what is variable cost per unit?
A: Variable Cost = Cost which changes with change in units. Variable Cost Per unit = It is Variable…
Q: ost flow methods and assumptions. What
A: The different cost flow methods and assumptions are as follows: FIFO LIFO Weighted average
Q: Explain the difference between total variable costs and variable costs per unit.
A: Cost can be categorized as variable and fixed costs.
Q: what is the benefit cost ratio?
A: net present value revenue = 1.5 cost revenue - cost = NPV 1.5cost -cost = 250000 cost = 500000…
Q: What is cost-plus pricing? Who uses it?
A:
Q: What are some factors that affect variable costs?
A: Variable costs: A variable cost is a business expenditure that varies in proportion to manufacturing…
Q: What are the advantages and disadvantages of cost principle
A: Cost principle is an accounting principle that recognizes the asset at their respective cash amounts…
Q: What is the Contribution Margin?
A:
Q: What can be the Direct-Variable Costs? Explain. What can be the Direct-Fixed Costs? Explain. What…
A: Direct variable cost are those cost incurred in line with production or for a particular product or…
Q: what are the differences between the FIFO, LIFO, and the average cost?
A: Inventory: It refers to the items held by an organization which were in various forms like raw…
Q: What is a fixed cost? Give an example.
A: Fixed Cost: Fixed costs are those costs which remain unchanged even there is a change in the…
Q: Define variable cost and fixed cost. Give an example of each?
A: Variable Cost: Variable cost refers the cost which varies due to the change in the level of…
Q: What is the cost principle?
A: Cost Principle:Cost principle requires recording of assets and liabilities on the balance sheet of…
Q: How do step-wise costs and curvilinear costs differ?
A: There are different types of costs such as variable costs, fixed costs, step costs, and curvilinear…
Q: What is the variable cost per unit produced?
A: Variable costs are those costs which changes directly with change in level of activity. For example,…
Q: What are costs that have characteristics of both a variable and fixed cost?
A: A cost that has characteristics of both a variable cost and a fixed cost is called a mixed costs or…
Q: What is the relevant range? How does fixed costs and variable costs behave outside the relevant…
A: Relevant range refers to the level of the activity which represents the maximum and minimum limits…
Q: what is weighted average cost method?
A: The weighted average cost method is one of the methods to ascertain the unit cost of a product. It…
Q: What is a variable cost? Identify two variable costs.
A:
Q: Explain the term Variable costs?
A: Cost is the total amount that has to be paid for a product.
Q: What is the correlation between fixed, variable, and semi-variable costs??
A: Introduction:- Fixed Costs – Costs are same irrespective of the number of output produced Variable…
Q: determine unit cost under variable costing?
A: Costing techniques are important concept used in cost accounting branch. There are two type of…
Q: Giving examples, distinguish between Variable cost and Fixed costs
A: Introduction: Costs: Costs are of two types: 1 ) Fixed costs 2 ) variable costs
Q: What is costing?
A: Costing means the estimated cost of producing or undertaking something.
Q: Which costs make up “prime” costs?
A: Prime cost is that cost, which is directly concerned with the product such as direct material,…
Q: What is a relationship between fixed, variable and semi-variable cost?
A: Cost can be defined as the amount incurred upon the production of goods and services for the final…
Q: What is the difference between total costs and marginal costs?
A: Total cost is the total economic cost of production. Variable cost changes according to the quantity…
Q: Is labor a true variable cost?
A: Direct labor cost is the cost involved in payment of wages to the laborers who are involved in…
Q: be considered
A: The phrase "mixed costs" in accounting refers to costs and expenses that include two components:…
Q: How are absorption costing and variable costing the same? How are they different?
A: Absorption Costing: "Absorption costing is a method that allocates "direct labor, direct materials,…
Q: What does the Contribution margin equation express?
A: Break Even Point: Break Even Point is defined as the level where there is no profit…
Q: What is the prime cost?
A: Prime costs means cost of direct materials used and direct labour costs incurred. Direct material…
Q: What is fixed cost
A: The answer is as fallows
Q: cost benefit model
A: The benefit under the cost-benefit model is calculated by deducting the associated cost from the…
Q: What is a fixed cost? A variable cost? A mixed cost? Give an example of each
A: Costs are the expenses incurred in business. It means costs incurred for the manufacturing of…
Q: What are sunk costs? Give an example.
A:
Q: Distinguish between fixed cost and variable cost.
A: Fixed Costs: These are the costs that remain constant in total dollar amount irrespective to the…
Q: What can be the Direct-Variable Costs?
A: Fixed cost means the cost which do not vary with the level of output. Variable cost means the cost…
Q: Which of the following is the best definition of a variable cost?
A: Types of Costs 1. Variable Cost: The cost which changes with the change in the level of activity is…
Q: What is the variable cost? Give an example.
A: Variable costs tend to vary in direct proportion to the volume of production. If a cost is variable,…
Q: what is the definition of fixed, variable, and mixed costs? Are variable costs or fixed costs easier…
A: Introduction: Cost accounting is a type of managerial accounting that capture a firm's production…
What is the variable cost and indirect cost?
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- Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases. a. Direct material cost per unit. b. Fees for using a patent of $500,000 plus $0.25 for each unit produced. c. Salary of quality control supervisor. d. Straight-line depreciation per unit on factory equipment. e. Total direct materials cost.The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
- Identify cost graphs The following cost graphs illustrate various types of cost behavior: 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 cost B. Electricity costs of 1,000 per month plus 0.10 per kilowatt-hour C. Per-unit cost of straight-line depreciation on factory equipment D. Salary of quality control supervisor, 20,000 per month E. Per-unit direct labor costThe following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?Corporate data is as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Period Unit $6.30 $3.20 $1.35 $1.50 $0.50 $15,000 $ 3,500 f the selling price is $22 per unit, the contribution margin per unit sold is closest to:
- Shown below are units produced and total manufacturing costs for the pastfour months at Minda Manufacturing Corporation: Units Produced Total CostJul 120 P446,000Aug 150 P508,000Sep 180 P638,000Oct 170 P668,000What is Minda's cost formula for total manufacturing costunder the high-lowmethod?10. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL VARIABLE MANUFACTURING COSTS?Asplund Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $ 6.95 Cost per Period $ 3.60 $ 2.00 $ 20,800 $ 1.50 $ 0.45 $ 8,900 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,280 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,280 units? a. Total product cost b. Total period cost
- Dobosh Corporation has provided the following information: Cost per Unit $ 7.65 $ 4.25 $ 2.20 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling andadministrative expense $ 2.10 $ 1.15 Cost per Period $ 132,600 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 9,240 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 9,240 units? c. If 10,000 units are sold, what is the variable cost per unit sold? Note: Round "Per unit" answer to 2 decimal places. d. If 10,240 units are sold, what is the total amount of variable costs related to the units sold? a. Total product cost b. Total period cost c. Variable cost per unit sold d. Total variable costs $ 51,450 e. If 10,240 units are produced, what is the total amount of manufacturing overhead cost incurred? f. If the selling price is…6. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL MANUFACTURING (PRODUCT) COSTS?The following variable production costs apply to goods made by Fanning Manufacturing Corporation: Item Materials Labor Variable overhead Total Required Determine the total variable production cost, assuming that Fanning makes 10,000, 20,000, or 30,000 units. Units Produced Cost per Unit $10.00 2.50 0.75 $13.25 Total variable cost 10,000 20,000 30,000