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Costs can be classified into 2 categories, fixed and variable costs. These costs behave differently based on the level of sales volume. Suppose we are running a restaurant and have identified certain costs along with the number of annual training of 1000.
Item:raw material (costs for hamburgers )Total annual cost :650Item : building rentTotal annual cost :9000
Identified with cost item above is fixed and variable and why?What is the cost per unit of each? Suppose we increased our sales volume to 6000 units and then 8000 units the following year ( and are still within the relevant range ), what would be the total annual cost and unit cost of fixed and variable cost?
Phoenix Manufacturers makes blank computer disks. It takes one-eighth of a pound of direct materials and one minute of direct labor at standard per disk. Direct materials cost $2.60 per pound at standard, and the standard direct labor rate is $6.0..
A is a fixed cost; B is a variable cost. During the current year level of activity has reduced but is still within the relevant range. We would expect that
Misemer Corporation is developing standards for its products. One product requires an input that is purchased for $57.00 per kilogram from the supplier.
Costs may be allocated to a product or activity for many purposes, but care must be exercised when using allocated costs because:
What would you include in a job description for a new cashier? How about a sales person? What is included on your job description? Are there functions you perform that are not in your job description?
The three product cost elements?direct materials, direct labor, and overhead? Flow through job order costing system in structured, orderly fashion. Specific accounts and subsidiary ledgers are employed to verify and record cost information.
CP has decided to introduce the new product which can be manufactured by either a computer assisted manufacturing system or labor intensive production system. The manufacturing technique will not affect the quality of product. The estimated manufa..
Why would a business like UPS or eBay be concerned with looking at contribution margin by market segment? Can you recognize kinds of market segments?
Custom Fiberglass Products had the following inventory balances at the beginning and ending of August 2007: Determine the prime cost added to production during August. Determine the conversion cost added to production during August.
Discuss the most important steps in the operating budget process. Why are these more important than the other steps?
Compare and contrast financial and managerial accounting. Define fixed, variable, and mixed costs and explain the cost behaviors of each. Demonstrate the proper accounting for job order costing and process costing. Distinguish between and demonstrate..
Compute the number of gizmos needed to break even under present price and cost conditions. Compute how many units would have to be sold to meet the profit target for each of suggested options
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