10) Costs that have both variable and fixed components are called: A) fixed cost. B) variable...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
10) Costs that have both variable and fixed components are called: A) fixed cost. B) variable cost. C) mixed cost. D) contribution cost. 11) Jezebel Company incurred fixed costs of $300,000. Total costs, both fixed and variable, are $450,000 when 50,000 units are produced. It sold 35,000 units during the year. Calculate the variable cost per unit. A) $9 B) $12 C) $6 D) $3 12) Anthony Company's highest point of total cost was $75,000 in June. Their point of lowest cost was $50,000 in December. The company makes a single product. Production volume in June and December were 13,000 and 8,000 units, respectively. What is the fixed cost per month? A) $50,000 B) $20,000 C) $10,000 D) $8,000 13) First Buy Company provided the following manufacturing costs for the month of June. Direct labor cost Direct materials cost Equipment depreciation (straight-line) Factory insurance Factory manager's salary Janitor's salary Packaging costs Property taxes A) TRUE B) FALSE $136,000 80,000 From the above information, calculate First Buy's total variable costs. A) $311,600 B) $62,300 C) $234,800 D) $38,400 15) A(n). A) balance sheet 24,000 19,000 14) Contribution margin is the difference between net sales revenue and variable costs. 12,800 5,000 18,800 16,000 B) contribution margin income statement C) traditional income statement D) absorption costing income statement groups cost by behavior; that is, costs are classified as either variable costs or fixed costs. 10) Costs that have both variable and fixed components are called: A) fixed cost. B) variable cost. C) mixed cost. D) contribution cost. 11) Jezebel Company incurred fixed costs of $300,000. Total costs, both fixed and variable, are $450,000 when 50,000 units are produced. It sold 35,000 units during the year. Calculate the variable cost per unit. A) $9 B) $12 C) $6 D) $3 12) Anthony Company's highest point of total cost was $75,000 in June. Their point of lowest cost was $50,000 in December. The company makes a single product. Production volume in June and December were 13,000 and 8,000 units, respectively. What is the fixed cost per month? A) $50,000 B) $20,000 C) $10,000 D) $8,000 13) First Buy Company provided the following manufacturing costs for the month of June. Direct labor cost Direct materials cost Equipment depreciation (straight-line) Factory insurance Factory manager's salary Janitor's salary Packaging costs Property taxes A) TRUE B) FALSE $136,000 80,000 From the above information, calculate First Buy's total variable costs. A) $311,600 B) $62,300 C) $234,800 D) $38,400 15) A(n). A) balance sheet 24,000 19,000 14) Contribution margin is the difference between net sales revenue and variable costs. 12,800 5,000 18,800 16,000 B) contribution margin income statement C) traditional income statement D) absorption costing income statement groups cost by behavior; that is, costs are classified as either variable costs or fixed costs.
Expert Answer:
Answer rating: 100% (QA)
10 Costs that have both variable and fixed components are called Answer is option c mix... View the full answer
Related Book For
Introduction to Management Accounting
ISBN: 978-0133058789
16th edition
Authors: Charles Horngren, Gary Sundem, Jeff Schatzberg, Dave Burgsta
Posted Date:
Students also viewed these mechanical engineering questions
-
First Buy Company provided the following manufacturing costs for the month of June. From the above information, calculate First Buy's total fixed costs. A) $311,600 B) $52,800 C) $71,600 D) $76,800...
-
Mixed costs are costs that have both a fixed and a variable component. a. True b. False
-
Jezebel Company incurred fixed costs of $300,000. Total costs, both fixed and variable, are $450,000 when 50,000 units are produced. It sold 35,000 units during the year. Calculate the variable cost...
-
If an investor holds a credit-linked note and the credit event does not occur, the investor receives: A. All promised cash flows as scheduled. B. All coupon payments as scheduled but not the par...
-
A parallel helical gearset consists of a 19-tooth pinion driving a 57-tooth gear. The pinion has a left-hand helix angle of 30, a normal pressure angle of 20, and a normal module of 2.5 mm. Find: (a)...
-
Robertson Garden Supplies, which uses a perpetual inventory system and the FIFO costing method, has these account balances at December 31, 2017, prior to releasing the financial statements for the...
-
Match the term with its definition by placing the corresponding letter in the space provided: C Example: Amounts owed to a business by another business or individual 1. A contra-account, related to...
-
Inge Inspections Inc. specializes in determining whether a building or house's drainpipes are properly tied into the city's sewer system. The company pours colored chemical through the pipes and...
-
How does the principle of plasticity influence the design of reinforced concrete structures subjected to complex loading conditions ?
-
This comprehensive review problem requires you to complete the accounting cycle for Sherman Realty twice. This practice set allows you to review Chapters 1-5 while reinforcing the relationships...
-
Mary Had a Little Lamb LLC., made a raw materials purchase of $50,000 with terms of 2/10 net 30 on July 16th. What is the effective interest rate cost of giving up the discount?
-
Estimte the integral 0 xe dx
-
Annie was told that her product sales were 3 standard deviations below the mean. If the product sales were approximately normal with = 99 and o 4, what was Annie's number of product sales? Do not...
-
Find the x-values of the holes and vertical asymptotes of: R(x) = x(x-9) (x+1)(x-3)(x+5)
-
Read Raworth's recommendation that the field of economics abandons the idea that markets function through mechanical equilibrium and replace it with the idea markets are complex adaptive systems. In...
-
Consider the market-basket transaction datasest below: Transaction ID 1 Items Bought {a, b, d, e} {b,c,d} 234567890 10 {a, b, d, e} {a, c, d, e} {b, c, d, e} {b,d,e} {c, d} {a, b, c} {a,d,e} {b,d}...
-
Because of your knowledge about vocabulary development, you're asked to visit a classroom during a PTA meeting and help PreK-4 teachers explain their standards-based vocabulary programs that are...
-
(a) What is the focal length of a magnifying glass that gives an angular magnification of 8.0 when the image is at infinity? (b) How far must the object be from the lens?
-
Why are noncash investing and financing activities listed on a separate schedule accompanying the statement of cash flows?
-
Criticize the following statement: As a stockholder, I have a right to more dividends. You have millions stashed away in retained earnings. Its about time that you let the true owners get their hands...
-
Use the appropriate table to compute the following: 1. You have always dreamed of taking a safari in Africa. What lump sum do you have to invest today to have the $22,000 needed for the trip in 5...
-
On 6 August 2023, Danh (who is not a Scottish taxpayer) commenced self-employment as a sole trader. In addition, on 6 September 2023, he joined an existing partnership run by Ebele and Fai. The...
-
Dee commenced in self-employment on 6 April 2021. She initially prepared accounts to 5 April, but changed her accounting date to 31 July by preparing accounts for the four- month period to 31 July...
-
In May 2023 Bernard, a self-employed plumber, and his son Gerald, a self-employed electrician, purchased 1,000 empty barrels from a Scottish whisky distillery. The barrels were over 100 years old and...
Study smarter with the SolutionInn App