Chillicothe Meat Company produces one of the best sausage products in southern Ohio. The company’s controller used the account-classification method to compile the following information.
Required:
1. Classify each cost item as variable, fixed, or semivariable.
2. Write a cost formula to express the cost behavior of the firm’s production costs. (Use the formula Y = a + bX, where Y denotes production cost and X denotes quantity of sausage produced.)
Homework Answers
| 1 | |
| a | Fixed |
| b | Variable |
| c | Variable |
| d | Fixed |
| e | Semivariable |
| 2 | ||
| Fixed | Variable | |
| a | 19000 | |
| b | 1.10 | |
| c | 0.70 | |
| d | 10000 | |
| e | 4000 | 0.20 |
| Total | 33000 | 2.00 |
| Production cost per month = 33000 + 2 X |
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Chillicothe Meat Company produces one of the best sausage
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