For purposes of analysis, mixed costs can generally be separated into their variable and fixed components....
For purposes of analysis, mixed costs can generally be separated into their variable and fixed components.
True
False
Homework Answers
True
One of the assumptions under the cost volume profit analysis, mixed costs can be seperated into the variable element and fixed elements.
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For purposes of analysis, mixed costs can generally be separated
into their variable and fixed components....
3 – A2 Division of Mixed Costs into Variable and Fixed Components Molly Flutie, president of...
3 – A2 Division of Mixed Costs into Variable and Fixed Components Molly Flutie, president of First Tool, Co., has asked for information about the cost behavior of manufacturing support costs. Specifically, she wants to know how much support cost is fixed and how much is variable. The following data are the only records available: Month Machine Hours Support Costs May 1,700 $ 22,000 June 1,600 21,000 July 1,500 19,500 August 1,400 18,500 September 1,300 18,000...
3 – A2 Division of Mixed Costs into Variable and Fixed Components Molly Flutie, president of...
3 – A2 Division of Mixed Costs into Variable and Fixed Components Molly Flutie, president of First Tool, Co., has asked for information about the cost behavior of manufacturing support costs. Specifically, she wants to know how much support cost is fixed and how much is variable. The following data are the only records available: Month Machine Hours Support Costs May 1,700 $ 22,000 June 1,600 21,000 July 1,500 19,500 August 1,400 18,500 September 1,300 18,000...
Comment on factors likely to affect the accuracy of the analysis of costs into fixed and variable components.
Comment on factors likely to affect the accuracy of the analysis of costs into fixed and variable components.
Identify the true statement about variable costing. a. It treats fixed manufacturing overhead as a period...
Identify the true statement about variable costing. a. It treats fixed manufacturing overhead as a period cost. b. It is the most acceptable product-costing method for external reporting, c. It assigns all manufacturing costs to the product. Od. It treats fixed selling overhead as a product cost. blem #3 of 12 The following data relates to Alpha Company. Units in beginning inventory Units produced 24,000 Units sold ($250 per unit) 20,000 Variable costs per unit: Direct materials Direct labor Variable...
Comment on factors likely to affect the accuracy of the analysis of costs into fixed and variables components.
Comment on factors likely to affect the accuracy of the analysis of costs into fixed and variables components. (The answer should describe the different techniques used to analyse fixedand variable costs, and illustrate the weaknesses of specific methods).
ERPSim Cost Classification Assignment In managerial accounting, costs are classified into fixed, variable or mixed costs...
ERPSim Cost Classification Assignment In managerial accounting, costs are classified into fixed, variable or mixed costs (based on behavior); product or period costs (for external reporting); and direct or indirect costs (based on traceability). Classification of costs based on behavior helps in cost-volume-profit analysis. Classification based on traceability is important for accurate costing of jobs and units produced. Classification for the purpose of decision-making is important to help management identify costs which are relevant for a decision. This exercise is...
Your answer is correct. Identify the above costs as variable, fixed, or mixed. Cost Direct materials...
Your answer is correct. Identify the above costs as variable, fixed, or mixed. Cost Direct materials Variable Direct labor Variable Utilities Mixed Fixed Property taxes Indirect labor Variable Supervisory salaries Fixed Mixed Maintenance Fixed Depreciation eTextbook and Media x Your answer is incorrect. Calculate the expected costs when production is 5,200 units. $ Cost to produce 5,200 units 65925 eTextbook and Media Bridgeport Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown below for...
6. Mixed costs are costs that a. Mixed costs change but not proportionately with changes in...
6. Mixed costs are costs that a. Mixed costs change but not proportionately with changes in the a. For purposes of CVP analysis, mixed costs must be classified into their fixed and variable elements. One method that management may use to classify these costs is the b. The high-low method uses the total costs incurred at the and levels of activity. The difference in costs between the high and low levels represents costs, which can change as c. Fixed costs...
Determine fixed, variable, and mixed costs. E56 PCB Corporation manufactures a single product. Monthly production costs...
Determine fixed, variable, and mixed costs. E56 PCB Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown below for the production of 3,000 units. The util ities and maintenance costs are mixed costs. The fixed portions of these costs are $300 and $200, respectively. (LO 1), AP Production in Units Production Costs Direct materials Direct labor Utilities Property taxes Indirect labor Supervisory salaries Maintenance Depreciation 3,000 7,500 18,000 2,100 1,000 4,500 1,900 1,100 2,400...
Identify the true statement about variable costing. a. It treats fixed manufacturing overhead as a period cost. b. It is the most acceptable product-costing method for external reporting, c. It assigns all manufacturing costs to the product. Od. It treats fixed selling overhead as a product cost. blem #3 of 12 The following data relates to Alpha Company. Units in beginning inventory Units produced 24,000 Units sold ($250 per unit) 20,000 Variable costs per unit: Direct materials Direct labor Variable...
Your answer is correct. Identify the above costs as variable, fixed, or mixed. Cost Direct materials Variable Direct labor Variable Utilities Mixed Fixed Property taxes Indirect labor Variable Supervisory salaries Fixed Mixed Maintenance Fixed Depreciation eTextbook and Media x Your answer is incorrect. Calculate the expected costs when production is 5,200 units. $ Cost to produce 5,200 units 65925 eTextbook and Media Bridgeport Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown below for...
6. Mixed costs are costs that a. Mixed costs change but not proportionately with changes in the a. For purposes of CVP analysis, mixed costs must be classified into their fixed and variable elements. One method that management may use to classify these costs is the b. The high-low method uses the total costs incurred at the and levels of activity. The difference in costs between the high and low levels represents costs, which can change as c. Fixed costs...
Determine fixed, variable, and mixed costs. E56 PCB Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown below for the production of 3,000 units. The util ities and maintenance costs are mixed costs. The fixed portions of these costs are $300 and $200, respectively. (LO 1), AP Production in Units Production Costs Direct materials Direct labor Utilities Property taxes Indirect labor Supervisory salaries Maintenance Depreciation 3,000 7,500 18,000 2,100 1,000 4,500 1,900 1,100 2,400...
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