Homework Answers
Solution:
Cost C is the fixed costs as same is not changing with change in activity level.
Cost A and Cost B are changing with volume, however cost per unit is not constant for June and July.
Hence both Cost A and Cost B are mixed costs.
Hence 4th option is correct.
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XYZ Company reported the following cost information: June July Cost A Cost B Costc Units sold...
XYZ Company reported the following cost information: June Cost A Cost B Cost c Units sold...
XYZ Company reported the following cost information: June Cost A Cost B Cost c Units sold $16,380 $55,440 $37,380 42,000 units July $21,560 $89,080 $37,380 68,000 units Which of the above costs would be classified as a mixed cost? O Cost A O Cost B O Costc Both Cost A and Cost B are mixed costs all of the above costs are mixed costs none of the above costs are mixed costs
relevant in comparing decision alternatives o all of the above costs would be considered relevant in...
relevant in comparing decision alternatives o all of the above costs would be considered relevant in comparing decision alternatives Question 2 3.5 pts AG-2m Company reported the following cost information: Cost A Cost B Cost C Units sold June $19,740 $55,020 $37,380 42,000 units July $35,720 $99,560 $37,380 76,000 units Which of the above costs would be classified as a mixed cost? Cost A O Cost B O Cost C both Cost A and Cost B are mixed costs all...
XYZ Company reported the following information for June: contribution margin per unit ......... $24 fixed costs...
XYZ Company reported the following information for June: contribution margin per unit ......... $24 fixed costs .......................... $180,000 variable cost per unit ............... $36 Calculate the number of units XYZ Company needed to sell in June in order to earn a target profit equal to 24% of sales.
During May, XYZ Company sold 9,000 units and reported the following income statement: Variable costs .........
During May, XYZ Company sold 9,000 units and reported the following income statement: Variable costs ...... Fixed costs Net income ........... ....... ....... ........ $540,000 216,000 117,000 $207,000 Calculate the number of units XYZ Company needed to sell in May in order to earn a target profit equal to 45% of sales.
Fanelli Corporation, a merchandising company, reported the following results for July Number of units sold Selling...
Fanelli Corporation, a merchandising company, reported the following results for July Number of units sold Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense 5,900 $ 600 $ 411 $ 68 $125,400 $ 24 $207,300 points (8 02:59:21 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense 5,900 $ 600 $ 411 68 $125,400 24 $207,300 0 0 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution format income...
10) XYZ Company provided you with the following cost information. Month January February March April May...
10) XYZ Company provided you with the following cost information. Month January February March April May June Power Cost $24,400 30,400 29,000 22,340 19,900 16,900 Factory Machine Hours 13,900 17,600 16,800 13,200 11,600 8,600 Instructions Answer the following questions and show computations to support your answers by using the high-low method of analyzing costs.. (a) Calculate the estimated variable portion of power costs per factory machine hour? 1.5 cost per unit (b) Calculate the estimated fixed power cost each month?...
I'm unsure with my answer. Question 2 During May, XYZ Company sold 9,000 units and reported...
I'm unsure with my answer.
Question 2 During May, XYZ Company sold 9,000 units and reported the following income statement: Sales $540,000 Variable costs 216,000 Fixed costs 117,000 $207,000 Net income Calculate the margin of safety reported by XYZ Company for May. 345,000
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,800...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,800 Selling price per unit $ 590 Unit cost of goods sold $ 410 Variable selling expense per unit $ 66 Total fixed selling expense $ 125,300 Variable administrative expense per unit $ 22 Total fixed administrative expense $ 207,200 Cost of goods sold is a variable cost in this company. Required: b. Prepare a contribution format income statement for July.
Delongis Corporation, a merchandising company, reported the following results for June: Number of units sold $...
Delongis Corporation, a merchandising company, reported the following results for June: Number of units sold $ 1,200 units Selling price per unit $ 221 per unit Unit cost of goods sold $ 97 per unit Variable selling expense per unit $ 12 per unit Total fixed selling expense $ 7,300 Variable administrative expense per unit $ 8 per unit Total fixed administrative expense $ 15,300 Cost of goods sold is a variable cost in this company. The contribution margin for...
XYZ Company reported the following cost information: June Cost A Cost B Cost c Units sold $16,380 $55,440 $37,380 42,000 units July $21,560 $89,080 $37,380 68,000 units Which of the above costs would be classified as a mixed cost? O Cost A O Cost B O Costc Both Cost A and Cost B are mixed costs all of the above costs are mixed costs none of the above costs are mixed costs
relevant in comparing decision alternatives o all of the above costs would be considered relevant in comparing decision alternatives Question 2 3.5 pts AG-2m Company reported the following cost information: Cost A Cost B Cost C Units sold June $19,740 $55,020 $37,380 42,000 units July $35,720 $99,560 $37,380 76,000 units Which of the above costs would be classified as a mixed cost? Cost A O Cost B O Cost C both Cost A and Cost B are mixed costs all...
During May, XYZ Company sold 9,000 units and reported the following income statement: Variable costs ...... Fixed costs Net income ........... ....... ....... ........ $540,000 216,000 117,000 $207,000 Calculate the number of units XYZ Company needed to sell in May in order to earn a target profit equal to 45% of sales.
Fanelli Corporation, a merchandising company, reported the following results for July Number of units sold Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense 5,900 $ 600 $ 411 $ 68 $125,400 $ 24 $207,300 points (8 02:59:21 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense 5,900 $ 600 $ 411 68 $125,400 24 $207,300 0 0 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution format income...
10) XYZ Company provided you with the following cost information. Month January February March April May June Power Cost $24,400 30,400 29,000 22,340 19,900 16,900 Factory Machine Hours 13,900 17,600 16,800 13,200 11,600 8,600 Instructions Answer the following questions and show computations to support your answers by using the high-low method of analyzing costs.. (a) Calculate the estimated variable portion of power costs per factory machine hour? 1.5 cost per unit (b) Calculate the estimated fixed power cost each month?...
I'm unsure with my answer.
Question 2 During May, XYZ Company sold 9,000 units and reported the following income statement: Sales $540,000 Variable costs 216,000 Fixed costs 117,000 $207,000 Net income Calculate the margin of safety reported by XYZ Company for May. 345,000
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