X Company wants to estimate total costs (overhead plus
administrative) in March, when production is expected to be 1,300
units. It analyzed January costs to determine the parameters of the
overhead and administrative cost functions. January production was
1,000 units and costs were as follows:
Total overhead costs | $59,000 |
Total fixed overhead costs | 33,040 |
Total administrative costs | 34,000 |
Total variable administrative costs | 8,500 |
What is X Company's estimate of total costs in March [round unit
costs to two decimal places]?
Total overhead costs = $59,000
Total fixed overhead costs = $33,040
Total variable overhead = Total overhead costs - Total fixed overhead costs
= 59,000-33,040
= $25,960
Variable overhead cost per unit = Total variable overhead/ Number of units
= 25,960/1,000
= $25.96
Total administrative costs = $34,000
Total variable administrative costs = $8,500
Total fixed administrative cost = Total administrative costs -Total variable administrative costs
= 34,000-8,500
= $25,500
Total variable administrative cost per unit = 8,500/1,000
= $8.5
Calculation of Total Costs in March | |
Total variable overhead cost (25.96 x 1,300) | 33,748 |
Total fixed overhead cost | 33,040 |
Total variable administrative costs (8.5 x 1,300) | 11,050 |
Total fixed administrative cost | 25,500 |
Total Cost | $103,338 |
Kindly comment if you need further assistance. Thanks‼!
X Company wants to estimate total costs (overhead plus administrative) in March, when production is expected...
X Company wants to estimate total costs (overhead plus administrative) in March, when production is expected to be 1,300 units. It analyzed January costs to determine the parameters of the overhead and administrative cost functions. January production was 1,000 units and costs were as follows: Total overhead costs Total fixed overhead costs Total administrative costs Total variable administrative costs $56,000 33,600 40,000 12,000 What is X Company's estimate of total costs in March [round unit costs to two decimal places]?
X Company wants to estimate total costs (overhead plus administrative) in March, when production is expected to be 1,300 units. It analyzed January costs to determine the parameters of the overhead and administrative cost functions. January production was 1,000 units and costs were as follows: Total overhead costs Total fixed overhead costs Total administrative costs Total variable administrative costs $60,000 38,400 35,000 8,750 What is X Company's estimate of total costs in March [round unit costs to two decimal places]?...
X Company wants to estimate total costs (overhead plus administrative) in March, when production is expected to be 1,300 units. It analyzed January costs to determine the parameters of the overhead and administrative cost functions. January production was 1,000 units and costs were as follows: Total overhead costs Total fixed overhead costs Total administrative costs Total variable administrative costs $62,000 35,960 39,000 7,800 What is X Company's estimate of total costs in March [round unit costs to two decimal places]?...
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X Company wants to estimate total costs (overhead plus administrative) in March, when production is expected to be 1,350 units. It analyzed January costs to determine the parameters of the overhead and administrative cost functions. January production was 1,000 units and costs were as follows: Total overhead costs Total fixed overhead costs Total administrative costs Total variable administrative costs $56,000 26,320 38,000 7,980 What is X Company's estimate of total costs in March [round unit costs to two decimal places]?...
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