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Variable cost Essays & Research Papers

Best Variable cost Essays

  • Variable Costs - 564 Words Assignment: Fixed cost Dora McKinney Hsm/260 Week 4 Instructor: Greg O’Donnell Fixed Costs, Variable Costs, and Break-Even Point Exercise 10.1 Month Meals Served Total Costs July 3,500 $20,500 Low August 4,000 22,600 September 4,200 23,350 October 4,600 24,500 November... 564 Words | 2 Pages
  • Variable Costs - 768 Words Costs and budgets The management of costs is a very important aspect of managing financial resources. If costs are not managed effectively, it can lead to profits being damaged and the business potentially unable today its expense. Keeping within a budget, increasing income in order to cope with change and making sure that working capital is available and money and set aside for emergencies is all part of the balancing exercise. Costs managed to budget McDonald’s budget was adverse as there... 768 Words | 2 Pages
  • Variable Cost - 1736 Words Cost management | Wilkerson Company Case | | 1. What is the competitive situation faced by Wilkerson? The competitive situation faced by Wilkerson is quite severe. Price cutting in its main product has led to a huge drop in profit. While price increase in another product line partially made up the loss. We will discuss the detailed situation line by line. (1) Valves It was the first product line developed by Wilkerson and its high quality brought it a loyal customer base.... 1,736 Words | 8 Pages
  • Variable Cost - 2969 Words The University of Business and International Studies Geneva, Switzerland. COURSE TITLE: ACCOUNTING FOR DECISION MAKING Student : NGUYEN THANH DAM COURSE CODE: Accounting for decision making – final assigment Lecturer: Pham Quang Huy Page 1 ACCT 601 UBIS INTAKE 2012 - 2013 The University of Business and International Studies Geneva, Switzerland. PROBLEM Part 1: Optional Section In this part, the learners have to choose four of eight questions for answering. If you... 2,969 Words | 11 Pages
  • All Variable cost Essays

  • Variable Costs - 1487 Words IE401-Econ401 MidTerm Managerial Economics NAME: Each of the 20 multiple choice questions is worth 3 points. Mark your answers on the ANSWER KEY on page 5. Also provide BRIEF answers to each of the 4 “essay type/logical” questions. Multiple-Choice Questions 1. A manufacturer produces 1,000 basketballs each day, which it sells to customers for $30 each. All costs associated with production and sales total $10,000; however, if the manufacturer were to produce... 1,487 Words | 9 Pages
  • Variable Cost - 597 Words Wilkerson Case: Assignment Questions 1. What is the competitive situation faced by Wilkerson? 2. Given some of the apparent problems with Wilkerson’s cost system, should executives abandon overhead assignment to products entirely by adopting a contribution margin approach in which manufacturing overhead is treated as a period expense? Why or why not? 3. How does Wilkerson’s existing cost system operate? Develop a diagram to show how costs flow from factory expense accounts to products.... 597 Words | 2 Pages
  • Variable Cost - 783 Words Running head: VARIABLE COSTS Variable Costs ACC/561 June 12, 2012 Variable Costs Any cost which is not fixed and will change in same amount when there is change in production volume is accounted as variable costs. This also means that they change in total rather than per unit whenever there is production or activity change. In production- labor, material or overhead could be the variable costs involved in the business. In Fitness center, there are different variable costs involved and... 783 Words | 3 Pages
  • Variable Costs - 460 Words Questions: Danshui Plant No. 2 1. Using budget data, how many Apple iPhone 4’s would have to have been completed for Danshui Plant No. 2 to break even? 2. Using budget data, what was the total expected cost per unit if all manufacturing and shipping overhead (both variable and fixed) were allocated to planned production? What was the actual cost per unit of production and shipping. 3. Prepare a flexible budget for 180,000 iPhone 4’s and calculate flexible budget variances using actual... 460 Words | 3 Pages
  • Variable Cost - 856 Words ACT 2131 – QUIZ 1 solution MATRIX NO: ______________________ Answer all questions by using OMR form given 1. Managerial accounting: A. has its primary emphasis on the future. B. is required by regulatory bodies such as the SEC. C. focuses on the organization as a whole, rather than on the organization's segments. D. Responses a, b, and c are all correct. 2. The plans of management are expressed formally in: A. the annual report to shareholders. B. Form 10-Q submitted... 856 Words | 5 Pages
  • Variable Cost - 424 Words Latasha Thomas January 20, 2013 HSM 260 Jerome Anderson Exercise 10.1 Recompute fixed costs, variable costs, and the BEP. What are the variable costs? What are the fixed costs? How many meals will the WHDM program need to provide during the fiscal year to reach the BEP? How much profit will the program earn if it completes its 45,000-meal contract with the City of Westchester? The variable cost of service is $3.93 during the fiscal year the WHDM should provide 1,011 meals to reach... 424 Words | 2 Pages
  • Costs and Total Variable Cost University of Phoenix 9/15/08 Ch.7 #12. 1. Year Nominal GDP Billions, Price Index (1996 = 100) Real GDP, Billions 1960 $ 527.4 22.19 $2376.75 1968 911.5 26.29 $34.6709 1978 2295.9 48.22 $47.6130 1988 4742.5 80.22 $59.1186 1998 8790.2 103.22 $85.159 Ch 20 #2 1. Graph the accompanying demand data, and then use the midpoint formula for Ed to determine price elasticity of demand elasticity of demand for each of thefour possible $1... 424 Words | 3 Pages
  • Harrington: Cost and Variable Costs Harrington Case Analysis Issue Stagnant sales performance has caused Harrington Collection to explore new avenues for improved performance, including the launch of a new active-wear line. Recognizing an emerging trend of low price and rapid style turnover in the women’s apparel market, along with tremendous growth in the active-wear segment, Harrington needs to work strategically to capture this profitable market opportunity. After careful analysis, it was determined that Harrington... 1,073 Words | 4 Pages
  • Fixed Costs, Variable Costs, and Bep Fixed Costs, Variable costs, and Break Even Point Elizabeth Gaud HSM /260 August 21, 2011 Stephanie Koontz Fixed Costs, Variable costs, and Break Even Point Exercise 10.1 Recompute fixed costs, variable costs, and the BEP. What are the variable costs? What are the fixed costs? How many meals will the WHDM program need to provide during the fiscal year to reach the BEP? How much profit will the program earn if it completes its 45,000-meal contract with the City of Westchester?... 511 Words | 2 Pages
  • Variable Cost Rs. - 356 Words fnfldfmk . You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%. 203 Ignou what do you know about the census 2011? 79 SBI mccb service sittings be done? 104... 356 Words | 2 Pages
  • Variable Costs: Assignment - 447 Words Shanae Dayes Econ2023 3/25/13 Chap. 23 23-1. The short run is a time period during which the professor cannot enter the job market and find employment elsewhere. This is the nine-month period from August 15 through May 15. The professor can find employment elsewhere after the contract has been fulfilled so the short run is nine months and the long run is greater than nine months. 23-3. input labor 0,1,2,3,4,5,6 total output of flash 0,25,60,85,105,115,120 marginal physical product... 447 Words | 2 Pages
  • Cost Is Fixed Cost or Variable Cost in Nature? Q: Is depreciation expense or depreciation cost is fixed cost or variable cost in nature? Fixed costs: Fixed costs are such costs that do not change with the change in activity level within the relevant range. Where relevant range can be defined in terms of time or activity level. Variable costs: Variable costs are such costs that change with the change in activity level . Coming to the question, depreciation expense or depreciation cost can either be fixed or variable and this depends on... 560 Words | 2 Pages
  • Total Variable Costs - 1424 Words MODULE 2 1. To predict costs and manage them on a day-to-day basis, managers must identify: A. cost of resources used B. key activities and resources used to perform activities C. cost drivers D. all of the above 2. Cost drivers are ________. A. measures of activities that require the use of resources and thereby cause costs B. different types of functional areas in the firm C. different types of cost calculations D. the different functions in the value chain 3. Which of the following... 1,424 Words | 5 Pages
  • Variable Cost and Following Table EM 505 - Decision Models, Fall 2012 Homework 3 - December 10-11, 2012 1. The diagram below depicts a system of aqueducts that originate at three rivers (nodes R1, R2 and R3) and terminate at a major city (node T) where the other nodes are junction points in the system. Using units of thousands of acre feet, the tables below show the maximum amount of water that can be pumped through each aqueduct per day and the following diagram shows the network of the system. From/To A R1 75 R2 40 R3 B 65 50... 1,959 Words | 6 Pages
  • Fixed and Variable Costs - 421 Words The restaurant Nita’s looked at the costs for the year. The restaurant wanted to see what some of their fixed and variable costs were for the year. They also wanted to make sure they remain in their relevant range. The costs focused on were the cost of hamburgers (raw materials) and the cost of building rent. It was determined that the raw materials were the variable costs because the cost will vary based on production of hamburgers. A variable cost is a cost that will change in direct... 421 Words | 1 Page
  • Variable Cost and Correct Answer Jump to Navigation Frame Your location: Assessments › View All Submissions › View Attempt View Attempt 1 of 2 Title: | Exam 2 (Chapters 10-18) | Started: | July 7, 2011 12:16 AM | Submitted: | July 7, 2011 2:11 AM | Time spent: | 01:54:47 | Total score: | 94/200 = 47% Total score adjusted by 0.0 Maximum possible score: 200 | 1. | Chapter 10 #265 | | Use this information for questions that refer to the World Tennis Ball (WTB) Company case. World Tennis Ball Co. (WTB)... 23,982 Words | 135 Pages
  • 09: Variable Cost and Overhead 09 Student: ___________________________________________________________________________ 1. A flexible budget is "flexible" in the sense that a budget can be prepared for any level of activity, but once a budget is set the budget figures are not changed if actual activity later proves to be different than budgeted activity. True False 2. In a performance report, actual costs should be compared to budgeted costs at the original budgeted activity level. True False 3. The overhead spending... 6,120 Words | 32 Pages
  • Microeconomics: Variable Cost - 1833 Words Microeconomics Topic 6: “Be able to explain and calculate average and marginal cost to make production decisions.” Reference: Gregory Mankiw’s Principles of Microeconomics, 2nd edition, Chapter 13. Long-Run versus Short-Run In order to understand average cost and marginal cost, it is first necessary to understand the distinction between the “long run” and the “short run.” Short run: a period of time during which one or more of a firm’s inputs cannot be changed. Long run: a period of time during... 1,833 Words | 6 Pages
  • Variable Cost and Additional Customers Question4: What closing time should Citywide Spirits Shoppe choose to maximize profits? Through the Attachment: (Evening time) Contribution Margin = average purchase revenue-average purchase cost = $30.52-$23.25 = $7.27 per customer per purchase Average numbers of customer: (Attachment 2) close time averge customers Time Total customer 10pm 10.18 10pm~11pm 12 11pm 10.16 10pm~12pm 21 12pm 10.08 10pm~1am 27 1am 9.71 10pm~2am 32 2am 9.4 10pm~3am 36 3am 9.06... 919 Words | 6 Pages
  • Variable Cost and Capital Structure  1. Which of the following would increase the likelihood that a company would increase its debt ratio in its capital structure? a. An increase in costs incurred when filing for bankruptcy. b. An increase in the corporate tax rate. c. An increase in the personal tax rate. d. None of the statements above is correct. ANSWER: B An increase in the corporate tax rate would mean that firms would get larger tax breaks for interest payments. Therefore, firms have an incentive to increase... 1,560 Words | 9 Pages
  • Variable or Fixed Cost - 363 Words Being able to determine whether a cost is fixed or variable is vital to the understanding of overhead loading and cost behavior. A fixed cost is unchanged with a change to the cost driver. (Horngren, Sutton, and Stratton p.46) Which means that a fixed cost does not rise with the change is production of your product. A good example of a fixed cost is rent. No matter how many widgets you make (within a relevant range) your rent will not increase. A variable cost, on the other hand, does... 363 Words | 2 Pages
  • Variable Cost and Contribution Margin ACC604 Final Exam Practice Questions – Series H 1. The Work in Process inventory account of a manufacturing company shows a balance of $18,000 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of $6,000 and $3,000 for materials, and charges of $4,000 and $2,000 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of: A. 50% B. 200% C. 300% D. 20%... 2,872 Words | 16 Pages
  • Variable Cost and Contribution Margin CHAPTER 12 PRICING DECISIONS AND COST MANAGEMENT 12-1 The three major influences on pricing decisions are 1. Customers 2. Competitors 3. Costs 12-2 Not necessarily. For a one-time-only special order, the relevant costs are only those costs that will change as a result of accepting the order. In this case, full product costs will rarely be relevant. It is more likely that full product costs will be relevant costs for long-run pricing decisions. 12-3 Two examples of pricing decisions... 8,010 Words | 37 Pages
  • Variable Cost and Net Income Chapter 2 Questions 2-1. I agree with this statement. I would also like to add that cost behavior is also identifying the key resources that are performed, resources used in performing these activities, costs of the resources, and what the cost is driven from. 2-2. Two rules of thumb when analyzing cost behavior are to manage what the company manufactures, sells, and to give advice as to where costs can be reduced. 2-3. Three examples of a variable cost are a 12% increase in the production... 822 Words | 2 Pages
  • Variable Cost and Total Contribution 1. In question 1, I have assumed its only the Tashtego that makes the trip of Balik to Singapore and back. I have also assumed the relevant cost is the cargo cost only. Therefore, profit contribution of carrying I ton of tapioca from Balik and Singapore: Expected revenue $5.10 Less freight cost (0.25+0.56) 0.81 Profit Contibution 4.29... 606 Words | 3 Pages
  • Fixed and Variable Compliance Cost Agri-environment contract adoption under fixed and variable compliance costs. This report looks at the agri-environment contract adpted by farmers’ to be able to contribute and partake in the enrivonmental schemes through pressure groups and government. It provides disctinct description to the differences in fixed and variable costs. The purpose of explaining the differences were to illustrate how farmers partaking to the project would be different than how much land will be needed to chip in... 317 Words | 1 Page
  • Variable Cost and Contribution Margin CHAPTER 1 – COST VOLUME PROFIT- MULTIPLE CHOICE QUESTIONS 1. CVP analysis can be used to study the effect of: A. changes in selling prices on a company's profitability. B. changes in variable costs on a company's profitability. C. changes in fixed costs on a company's profitability. D. changes in product sales mix on a company's profitability. E. All of these. 2. The break-even point is that level of activity where: A. total revenue equals total cost. B. variable cost equals fixed cost.... 1,377 Words | 7 Pages
  • Variable Cost and Contribution Margin 1. Cost of goods manufactured will usually include: A. only direct labor and direct materials costs. B. some costs incurred during the prior period as well as costs incurred during the current period. C. only costs incurred during the current period. D. some period costs as well as some product costs. 2. During the month of August, direct labor cost totaled $13,000 and direct labor cost was 20% of prime cost. If total manufacturing costs during August were $88,000, the manufacturing... 2,041 Words | 11 Pages
  • Variable Cost and Contribution Margin Name: __________________________ Date: _____________ 1. | Which of the following is not another name for the term manufacturing overhead? | A) | Factory overhead | B) | Pervasive costs | C) | Burden | D) | Indirect manufacturing costs | 2. | Which one of the following is an example of a period cost? | A) | A change in benefits for the union workers who work in the New York plant of a Fortune 1000 manufacturer. | B) | Workers' compensation insurance on factory workers' wages... 836 Words | 5 Pages
  • Variable Cost and New Strategy  4/15/2013 BBUS 373 Cost Accounting Vermont Teddy Bear Case Study 1. Summary After analyzing Vermont Teddy Bear’s existing and new strategies, we highly encourage the company to adopt the new strategy. As we compute and compare the sales, profit, contribution margin, and operating leverage of existing strategy with those of the new strategy, we found that the new strategy enables the company generate more sales profit and lower the operating risk, despite having to spend an additional... 1,541 Words | 8 Pages
  • Variable Cost and Flexible Budget 9-913-525 SEPTEMBER 28, 2012 WILLIAM BRUNS JULIE H. HERTENSTEIN KELVIN LIU Danshui Plant No. 2 In August 2010, Wentao Chen, manager of Danshui Plant No. 2 in southern China, was anxious. The plant was in the third month of a 12-month contract to assemble the Apple iPhone 4. The contract called for Danshui to assemble 2.4 million iPhones in the period between June 1, 2010, and May 31, 2011, but now in the third month of the contract, production was only 180,000 units per month. Chen... 1,735 Words | 6 Pages
  • Variable Cost and Contribution Margin 1. Henning Co. estimates that variable costs will be 60% of sales and fixed costs will total $2,160,000. The selling price of the product is $10, and 600,000 units will be sold. Instructions Using the mathematical equation, (a) Compute the break-even point in units and dollars. (b) Compute the margin of safety in dollars and as a ratio. (c) Compute net income. 2. Taveras Industries developed the following information for the product it sells: Sales price $50 per unit Variable... 394 Words | 2 Pages
  • Variable Cost and Points Question Question 1 1. Mrs. Granberry is going to sell Christmas tree lights for $20 a box. The lights cost Marsha $5 a unit and any unsold lights can be returned for a full refund. She is planning to rent a booth at the upcoming Happy Holidays Convention, which offers three options: 1. paying a fixed fee of $1,500, or 2. paying a $500 fee plus 10% of revenues made at the convention, or 3. paying 25% of revenues made at the convention.Which of the following statements is FALSE? Answer | | One... 1,238 Words | 7 Pages
  • Pricing and Variable Costs - 405 Words Marketing:The Core 5/e Kerin - Hartley - Rudelius Chapter 11 APPLYING MARKETING KNOWLEDGE 1 How would the price equation apply to the purchase price of (a) gasoline, (b) an airline ticket, and (c) a checking account? 2 Under what conditions would a camera manufacturer adopt a skimming price approach for a new product? A penetration approach? 3 What are some similarities and differences between skimming pricing, prestige pricing, and above-market pricing? 4 Touché Toiletries Inc. has... 405 Words | 2 Pages
  • Unit Variable Costs - 408 Words Max Leonard, Vice President of Marketing for Dysk Compyer, Inc must decide whether to introduce a mid-priced 2 version of the firm's DC6900 minicomputer product line-the DC6900-X minicomputer. The DC6900-X would sell for $ 3900, 3 with unit variable costs of $ 1,800. Projections made by an independent marketing research firm indicate that the DC6900-X 4 would achieve a sales volume of 500,000 units next year, in its first year of commercialization. One-half of the... 408 Words | 2 Pages
  • Variable Cost and Company - 1030 Words Section B Attempt Any Six Questions (6*5= 30) 1. Company A’s costs are mostly variable, whereas Company B’s costs are mostly fixed. When sales increase, which company will tend to realize the greatest increase in profits? Explain. 2. Crystal Telecom has budgeted the sales of its innovative mobile phone over the next four months as follows: Sales in Units July. . . . . . . . . . . . . . 30,000 August . . . . . . . . . . . 45,000 September . . . . . . . . 60,000 October . . . .... 1,030 Words | 5 Pages
  • Variable Cost and Large Vessel CASE STUDY Tashtego Advanced Topics in Management Accounting and Control The purpose of this paper is to analyze the economic situation of the company Macedonian Shipping and give a recommendation whether the company should use the motor vessel Tashtego as a freight tender beween Dar-es-Salaam and Zanzibar in East Africa or as a tapioca ship between Balik Papan and Singapore in the East Indies. Fundamental to all these considerations are measurement issues. Financial measures, in particular,... 1,045 Words | 6 Pages
  • Variable Cost and Contribution Margin  CASH FLOW DIRECT/INDIRECT 1. Given the following information and using the indirect method prepare the Cash Flows from Operating Activities section of the statement of cash flows. End of Year Beginning of Year Change Cash 23,500 37,400 (13,900) Accounts receivable (net)... 997 Words | 7 Pages
  • Variable Cost and Product Line ISSN 1940-204X SEWMEX: Short-Term Profit Planning in an International Setting Gus Gordon University of Texas at Tyler David E. Stout Youngstown State University Sarah Hartzog, Student Former Student, Milsaps College Matt Lusty, Student Former Student, University of Texas at Tyler In addition to SEWMEX, SEW has several other factories located in the southeastern part of the U.S. One of the factories (located in southeastern Mississippi) also serves as a distribution center and central... 4,991 Words | 16 Pages
  • Fixed and Variable Costs - 888 Words Health services managers are essentially interested in how costs are affected by changes in volume. Cost behavior refers to a cost's reactions to activity level. A cost may rise, fall, or remain constant as activity levels fluctuate. We can classify several types of costs on the basis of their relationship to the amount of services provided, often referred to as activity, utilization, or volume (Gapenski, 2012). When dealing with the future there is a level of uncertainty of volume with regard... 888 Words | 3 Pages
  • Variable Cost and Model - 419 Words Module Assignment 2-Problem Set Management Marketing MKT-450 Karen D. Nicosia Grand Canyon University August 29, 2010 Instructor: Prof. Freeman Problem 2-5 Video Concepts, Inc. (VCI) manufactures a line of DVD recorders (DVDs) that are distributed to large retailers. The line consists of three models of DVDs. The following data are available regarding the models: DVD Selling Price per unit Model LX1 Model LX2 Model LX3 $175.00 $250.00 $300.00 Variable Cost per unit $100.00 $125.00 $140.00... 419 Words | 2 Pages
  • Midterm: Variable Cost - 1266 Words Midterm Exam Page 1 1. | Indirect labor is a part of: | A | Prime cost. | B | Conversion cost. | C | Period cost. | D | Nonmanufacturing cost. | 2. | Prime cost and conversion cost share what common element of total cost? | A | Direct materials. | B | Direct labor. | C | Variable overhead. | D | Variable overhead. | 3. | On the Schedule of Cost of Goods Manufactured, the final Cost of Goods Manufactured figure represents: | A | the amount of cost... 1,266 Words | 7 Pages
  • Fixed Cost Variable Cost and Break Ev  Jennifer Smith Fixed Cost, Variable Cost, and Break-Even Point HSM/260 Cynthia Cucuzza November 23, 2014 Exercise 10.1 Cost: High-Low= $26, 000.00 −$20,500.00 =$5,500.00 The variable cost per meal: $5,500.00 ÷ 1,400 = $3.93 The variable cost for the low month: $13,755.00 Fixed cost: $20,500.00 − ( 3,500 •$3.93 ) = $6,745.00 PX = A + BX 5.77 X = 6,745 +3.93 X 5.77 − 3.93 = 6,745 + (3.93 − 3.93) 1.84 X = 6,745 1.84 X ÷ 1.84 X = 6,745 ÷ 1.84 X X = 3,666 (Monthly BEP) 3,666 * 12 =... 121 Words | 2 Pages
  • Catawba: Variable Cost and Differential Cost Approach Is the company correct in its decision of not manufacturing standard model compressors on Sundays? Why? Show your calculations. Decision making should be based on change of RELEVANT items ONLY. The company’s calculation is WRONG, as it takes into concern of irrelevant fixed cost. By double-counting depreciation, other Mfg. overheads, SG&A in Sunday’s cost; it distorts the P&L sheet. To correctly show cost structure for decision making, there are two different approaches, yet each should... 431 Words | 2 Pages
  • Fixed Costs, Variable Costs, and Break-Even Point Assignment: Fixed Costs, Variable Costs, and Break-Even Point Exercise 10.1 During the sixth month of the fiscal year, the program director of the Westchester Home-Delivered Meals (WHDM) program decides to again recompute fixed costs, variable costs, and the BEP using the high–low method. Here are the number of meals served and the total costs of the program for each of the first six months: Month Meals Served Total Costs July 3,500 $20,500. August 4,000 $22,600. September 4,200... 480 Words | 3 Pages
  • Hsm/260: Fixed Costs, Variable Costs, and Break HSM/260: Fixed Costs, Variable Costs, and Break Fixed Costs, Variable Costs, and Break Exercise 10.1 During the sixth month of the fiscal year, the program director of the Westchester Home-Delivered Meals (WHDM) program decides to again recompute fixed costs, variable costs, and the BEP using the high–low method. Here are the number of meals served and the total costs of the program for each of the first six months: Month Meals Served Total Costs July... 625 Words | 3 Pages
  • Variable Cost and New Conditioning Shampoo 1. (TCO F) Bingham Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below. Work in process, beginning: Units in beginning work-in-process inventory | 400 | Materials costs | $6,900 | Conversion costs | $2,500 | Percentage complete for materials | 80% | Percentage complete for conversion | 15% | Units started into production during the month | 6,000 | Units transferred... 504 Words | 2 Pages
  • Variable Cost and Patient Services Revenue 1. Middleton Clinic had total assets of 500,000 and an equity balance of 350,000 at the end of 2010. One year late, at the end of 2011, the clinic had 576,000$ in assets and 380,000 $ in equity. What was the clinic’s dollar growth in assets during 2011, and how was this growth financed? Clinic’s dollar growth from 2010 to 2011 = 576,000-500,000= 76,000 $ It was financed in increasing of Equity by 30,000 $ and the rest in the assets which is 76,000-30,000= 46,000 $ Chapter 5 1.... 368 Words | 2 Pages
  • Domino: Variable Cost and Mr. Blanchard BREAKEVEN ANALYSIS In 2012 the Domino’s Pizza franchise headquartered in New York City was considering going after corporate accounts. The manager of the franchise, Mr. Simon Blanchard, had to decide if this was a good idea. The deli’s in New York were flourishing since they had set up corporate contracts, and Mr. Blanchard wanted in ... He believed that 10 – 15% of corporations would join on. Mr. Blanchard figured that he would have to offer some sort of discount to get corporations... 510 Words | 4 Pages
  • Variable Cost and Waterways Continuing Problem Waterways Continuing Problem 1 Waterways Continuing Problem WCP1 Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrigate farms, parks, commercial projects, and private homes. It has a centrally located factory in a U.S. city that manufactures the products it markets to retail outlets across the nation. It also maintains a division that provides installation and warranty servicing in six metropolitan areas. The... 5,675 Words | 17 Pages
  • Homework: Variable Cost and Net Income Kathryn Blink Homework Week 4 The following information relates to Exercises 5-11 through 5-18: Summit Manufacturing, Inc. produces snow shovels. The selling price per snow shovel is $30. There is no beginning inventory. Costs involved in production are: Direct material $5 Direct labor $4 Variable manufacturing overhead $3 Total variable manufacturing costs per unit $12 Fixed manufacturing overhead cost per year $180,000 In addition, the company has fixed selling and... 715 Words | 4 Pages
  • Accounting: Variable Cost and New Equipment Armstrong Helmet Company manufactures a unique model of bicycle helmet. The company began operations December 1, 2013. Its accountant quit the second week of operations, and the company is searching for a replacement. The company has decided to test the knowledge and ability of all candidates interviewing for the position. Each candidate will be provided with the information below and then asked to prepare a series of reports, schedules, budgets, and recommendations based on that... 665 Words | 4 Pages
  • Variable Cost and Unit Selling Price 3369. Cost behavior refers to the manner in which: *a. a cost changes as the related activity changes b. a cost is allocated to products c. a cost is used in setting selling prices d. a cost is estimated 3370. The three most common cost behavior classifications are: a. variable costs, product costs, and sunk costs *b. fixed costs, variable costs, and mixed costs c. variable costs, period costs, and differential costs d. variable costs, sunk costs, and opportunity costs... 4,227 Words | 37 Pages
  • Variable Cost and Net Operating Income TCO B Questions 1. (TCO C) The following overhead data are for a department of a large company. Actual costs Static Incurred budget Activity level (in units) 800 750 Variable costs: Indirect materials $6,850 $6,600 Electricity $1,312... 601 Words | 4 Pages
  • Variable Cost and Net Operating Income ASSIGNMENT P 6-16, P6-17 PROBLEM 6-16 Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income [LO1, LO2, LO3] Wiengot Antennas, Inc., produces and sells a unique type of TV antenna. The company has just opened a new plant to manufacture the antenna, and the following cost and revenue data have been provided for the first month of the plant's operation in the form of a worksheet. Because the new antenna is unique in design,... 3,898 Words | 12 Pages
  • Variable Cost and Net Operating Income Submit Homew ork for Ch tad9000 gfmcppeopigbdej Advanced Manag Question 1: Score 0/4 Your response Exercise 5-1 Fixed and Variable Cost Behavior [LO1] Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand is $1,200 and the variable cost per cup of coffee served is $0.22. Requirement 1: Fill in the following table with your estimates of total costs and cost per cup of coffee at the indicated levels of... 14,633 Words | 65 Pages
  • Quiz: Variable Cost and Contribution Margin Quiz – Chapter 17 – Solution 1. Rider Company sells a single product. The product has a selling price of $40 per unit and variable expenses of $15 per unit. The company's fixed expenses total $30,000 per year. The company's break-even point in terms of total dollar sales is: A) $100,000. B) $80,000. C) $60,000. D) $48,000. The answer is d. CMR = (P-V)/P = ($40 - $15)/$40 = 62.5% Px = F/ (CMR) Px = $30,000/.625 = $48,000 Use the following to answer questions 2-3: Weiss Corporation produces two... 1,007 Words | 4 Pages
  • Variable Cost and Total Revenue Function BUSINESS MATHEMATICS: ASSIGNMENT - “Section” 5.1, page 182. (1) Write the general form of a linear function involving five independent variables. (2) Assume that the salesperson in Example 1 (page 177) has a salary goal of $800 per week. If product B is not available one week, how many units of product A must be sold to meet the salary goal? If product A is unavailable, how many units be sold of product B? (3) Assume in Example 1 (page 177) that the salesperson receives a bonus when... 781 Words | 3 Pages
  • Explain the difference between fixed costs, semi-fixed costs, and variable costs. Question 5.1 Explain the difference between fixed costs, semi-fixed costs, and variable costs. Fixed costs are those which do not change with the level of activity within the relevant range. These costs will incur even if no units are produced. For example rent expense, straight-line depreciation expense, etc. Fixed costs are those which do not change with the level of activity within the relevant range. These costs will incur even if no units are produced. For example rent expense,... 333 Words | 2 Pages
  • Costs - 2906 Words Polysar Limited--recent assignment. BACKGROUND Rubber Group is the largest of the three operating units of Polysar Limited. The primary users of its products, such as butyl and halobutyl, are manufacturers of automobile tires; other users are from various industries. In 1986, Rubber group contributed 0.8 billion which is 46 percent of the company annual sale. The operation of the group is divided into four divisions, NASA (North America and South America) and EROW (Europe and rest of the... 2,906 Words | 9 Pages
  • Cost - 20892 Words 3 Cost-Volume-Profit Analysis Learning Objectives 1. Explain the features of cost-volumeprofit (CVP) analysis 2. Determine the breakeven point and output level needed to achieve a target operating income 3. Understand how income taxes affect CVP analysis 4. Explain how managers use CVP analysis in decision making 5. Explain how sensitivity analysis helps managers cope with uncertainty 6. Use CVP analysis to plan variable and fixed costs 7. Apply CVP analysis to a company producing... 20,892 Words | 68 Pages
  • cost - 1110 Words 8‑2 (Key Question) Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5,000 for his shop, and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) that could earn him $4,000 per year if alternatively invested. He has been offered $15,000 per year to work as a potter for a competitor. He estimates his entrepreneurial talents are worth $3,000 per year. Total annual... 1,110 Words | 8 Pages
  • Hsm Week 4: Assignment: Fixed Costs, Variable Costs, and Break Assignment: Fixed and Variable Costs, Break-Even Point Exercise 10.1 Recompute fixed costs, variable costs, and the BEP. What are the variable costs? What are the fixed costs? How many meals will the WHDM program need to provide during the fiscal year to reach the BEP? How much profit will the program earn if it completes its 45,000-meal contract with the City of Westchester? The variable cost of service is $3.93 during the fiscal year the WHDM should provide 1,011 meals to reach... 545 Words | 3 Pages
  • Distribution of Variable vs Fixed Costs of Hospital Care CONTEXT: Most strategies proposed to control the rising cost of health care are aimed at reducing medical resource consumption rates. These approaches may be limited in effectiveness because of the relatively low variable cost of medical care. Variable costs (for medication and supplies) are saved if a facility does not provide a service while fixed costs (for salaried labor, buildings, and equipment) are not saved over the short term when a health care facility reduces service. OBJECTIVE: To... 284 Words | 1 Page
  • Cost - 3608 Words Strategic Cost Management ACCT90009 Seminar 1 Seminar 1 Subject Administration Introduction to SCM oduc o o SC Administration • Subject Coordinator Dr. David Huelsbeck Email: [email protected] Room: 08.028, The Spot Phone: +61 3 9035 6256 Consultation Hours: Monday 4:15pm – 6:15pm • Seminars: Tuesday: 2.15 pm – 5.15 pm, FBE ‐ Theatre 211 (Theatre 2) Thursday: 6.15 pm – 9.15 pm, Alan Gilbert ‐ Theatre 2 Teaching Format and Resources • Seminar Format... 3,608 Words | 0 Page
  • Costs Cost - 368 Words Memo To: Mr. Ron Collins From: Name Date: May 30, 2013 Re: Xyberspace Consulting, Inc.: Cost Allocation Revision Background Xyberspace Consulting is an Internet consulting firm in Austin, Texas that takes pride in keeping their employees up to date with education in the latest technology and software advances. They have some of the best trainers and require all employees to attend a total of two weeks of training. The problem comes from the allocation of the cost of the... 368 Words | 4 Pages
  • The Definition of Cost and the Difference Between Absorption Costing vs. Variable Costing In this document I am going to explain the definition of cost and the difference between absorption costing vs. variable costing, and also if overproducing is an ethical practice or not. Also I will be showing some calculations and data to explain a get a better idea of this entire situation and how we can resolve some problems in management accountant. Cost is the monetary value of goods and services expended to obtain current or future benefits. The way that a cost will be used defines the... 366 Words | 1 Page
  • Variable Manufacturing - 900 Words Grant’s Kitchens is approached by Ms. Tammy Wang, a new customer, to fulfill a large one-time-only special order for a product similar to one offered to regular customers. The following per unit data apply for sales to regular customers: Direct materials $455 Direct labor 300 Variable manufacturing support 45 Fixed manufacturing support 100 Total manufacturing costs 900 Markup (60%) 540 Targeted selling price $1440 Grant’s Kitchens has excess capacity. Ms. Wang wants the... 900 Words | 6 Pages
  • Cost Terminology and Cost Behaviors CHAPTER 2 COST TERMINOLOGY AND COST BEHAVIORS QUESTIONS 1. The term cost is used to refer to so many different concepts that an adjective must be attached to identify which particular type of cost is being discussed. For example, there are fixed costs, variable costs, period costs, product costs, expired costs, and opportunity costs, to name just a few. 2. A cost object is anything for which management wants to collect or accumulate costs. Before a cost can be specified as direct or... 5,614 Words | 35 Pages
  • Costs and Direct Labor Cost Midterm2Practice Key 1. The following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3,067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4,571 B. $3,757 C. $3,090... 1,320 Words | 5 Pages
  • Cost Production and Types of Cost Generally, the term cost of production refers to the ‘money expenses’ incurred in the production of a commodity. But money expenses are not the only expenses incurred on the production of a commodity. There are number of services and inputs such as entrepreneurship, land, capital etc., which are offered by an entrepreneur without changing any price or receiving any payment for them. While computing the total cost of production, allowance should be made for such expenses. It is therefore... 1,400 Words | 5 Pages
  • Costs and Opportunity Cost - 1862 Words * Nobel Prize–winning economist Ronald Coase noted,“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example, the opportunity set for this Friday night includes the movies, a concert, staying home and studying, staying home and watching television, inviting friends over, and so forth. The opportunity cost of taking job A included the forgone salary of $102,000 plus the $5,000 of intangibles from job B.... 1,862 Words | 6 Pages
  • Variable Costing - 1846 Words VARIABLE COSTINGMorenike Onibon Liberty University Abstract Determining the actual valuation of manufactured assets has always been a major problem in the accounting field. The real controversy exist in the decision regarding which costs are relevant to future periods, and thus should be included in assets valuation, and which should not be charged against net income. An understanding of the relationship between costs, volume, and profit, enables management to set more realistic objectives... 1,846 Words | 6 Pages
  • Costs and Cost Accounting Total AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724 AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each.... 568 Words | 4 Pages
  • Costs and Direct Cost - 730 Words Universiti Kebangsaan Malaysia Graduate School Of Business (UKM-GSB-LHDN) Cost Classification: Government Agency PROBLEM 2-56 The Department of Natural Resources is responsible for maintaining the state’s parks and forest lands, stocking the lakes and rivers with fish, and generally overseeing the protection of the environment. Several cost incurred by the agency are listed below. For each cost, indicate which of the following classifications best describe the cost. More than one... 730 Words | 4 Pages
  • Costs and Coffee Average Cost Exercise 2-2 Classify each cost listed below as either a product cost or a period cost for purposes of preparing the financial statements for the bank. 1. The cost of the memory chips used in radar set. * Product Cost 2. Factory Heating Cost * Period Cost 3. Factory Equipment maintenance costs. * Period Cost 4. Training costs for new administrative employees * Period Costs 5. The cost of the solder that is used in assembling the radar sets. * Product... 597 Words | 3 Pages
  • Costs Relevant Costs - 940 Words 1. The cost of a computer system installed last year is an example of: (Points: 2) a sunk cost a relevant cost a differential cost an avoidable cost 2. In evaluating different alternatives, it is useful to concentrate on: (Points: 2) variable costs fixed costs total costs relevant costs 3. Relevant costs in a make-or-buy decision of a part include: (Points: 2) setup overhead costs for the manufacture of... 940 Words | 5 Pages
  • Costs and Joint Cost Allocation Unitron Friday 1 ‘produced as/ sold as’ matrix Sold as | Produced as | | | 401 | 402 | 403 | 404 | 405 | Total | | 401 | 90,000 | 10,000 | | | | 100,000 | | 402 | | 110,000 | 30,000 | | | 140,000 | | 403 | | | 60,000 | 40,000 | | 100,000 | | 404 | | | | 20,000 | 20,000 | 40,000 | | 405 | | | | | 20,000 | 20,000 | | Total | 90,000 | 120,000 | 90,000 | 60,000 | 40,000 | 400,000 | 2 Physical Measures Method | Produced | Proportion | Joint Cost... 1,666 Words | 6 Pages
  • Cost Control and Cost Reduction Delivering successful cost reduction programmes In the current economic climate, most organisations must face up to a prolonged period of extreme competition and funding restrictions. This is particularly the case if the past few years have been focused on growth, service improvement or reorganisation (i.e. cost efficiency has not been a recent priority). Such pressures require an approach that reduces costs in a strategic, disciplined, and sustainable manner - delivered at pace. In our view... 1,294 Words | 4 Pages
  • Cost Control and Cost Reduction PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost.... 1,630 Words | 5 Pages
  • COST CONCEPTS AND COST ACCOUNTING COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS         Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with... 1,820 Words | 10 Pages
  • Cost Classification - 800 Words Cost classification is the process of grouping costs according to their common characteristics. A suitable classification of costs is of vital importance in order to identify the cost with cost centres or cost units. Cost may be classified accounting to their nature, i.e., material, labor and expenses and a number of other characteristics. The same cost figures are classified according to different ways of costing depending upon the purpose to be achieved and requirements of... 800 Words | 4 Pages
  • Cost Accounting - 2706 Words Harvard Business School 9-192-068 Rev. May 1, 1993 DO A Brief Introduction to Cost Accounting T NO Organizations and managers are almost always interested in and concerned about costs. Control of past, present, and future costs is part of every manager’s job. In companies that try to earn profits, control of costs directly affects the amount of profit earned. Knowledge of the cost of products or services is indispensable for decisions about pricing or product and service mix.... 2,706 Words | 12 Pages
  • Cost Sheet - 1682 Words In the books of a Company Cost Sheet for the period ended…….. Units Produced….. Name of the product unit sold…. Particulars Total cost Rs. Unit Cost Rs. Opening stock raw materials Add Purchases of Raw Materials Add: Expenses on Purchases of Raw Materials (octroi & duty) Less: Closing stock of raw materials Less: Sale of scrap or defectives of raw materials = Cost of materials consumed Add: Productive Labour Add: Outstanding wages Add: Direct Expenses(... 1,682 Words | 18 Pages
  • Costs and Price - 4222 Words Summer2011-Microeconomics-Exam Two Practice 1. To calculate the total utility of consuming N products: A. add the additional satisfaction of consuming each product up to N and multiply by its price. B. add the total satisfactions of consuming each product up to N. C. multiply the additional satisfaction from consuming the Nth product by its price. D. multiply total satisfaction from consuming N products by N. 2. Suppose that the following table lists the utility that Steve receives... 4,222 Words | 17 Pages
  • Cost Accounting - 11176 Words Chapter 1 Basic Cost Concepts Learning Objectives • To understand the meaning of different costing terms to understand different costing methods • To have a basic idea of different costing techniques • To understand the meaning of cost sheet In order to determine and take a dispassionate view about what lies beneath the surface of accounting figures, a financial analyst has to make use of different management accounting techniques. Cost techniques have a precedence over the... 11,176 Words | 44 Pages
  • Mixed Costs - 1258 Words Definition and explanation of mixed or semi variable cost: A mixed cost is one that contains both variable and fixed cost elements. Mixed cost is also known as semi variable cost. Examples of mixed costs include electricity and telephone bills. A portion of these expenses are usually consists line rent. Line rent normally is fixed for each month. Variable portion consists units consumed or calls made. The relationship between mixed cost and level of activity can be expressed by the following... 1,258 Words | 5 Pages
  • Cost Accounting - 1884 Words Sub Micron Devices Inc. Management Accounting-II Amit Bhatia(12P068) Deependra Kumar(12P078) Nitish Gupta(12P088) Ravinder Gahlout(12P098) Srinivasan Ramesh(12P108) Vipul Garg(12P118) Amit Bhatia(12P068) Deependra Kumar(12P078) Nitish Gupta(12P088) Ravinder Gahlout(12P098) Srinivasan Ramesh(12P108) Vipul Garg(12P118) Submitted By: 2012 Table of Contents Introduction 3 ASIC Division - Cost Pools 4 Cost accounting system at ASIC: 5 Internal and external... 1,884 Words | 6 Pages
  • Explicit Costs And Implicit Costs Concepts Q1: explicit costs and implicit costs concepts Explicit Cost Explicit cost is defined as the direct payment which is supposed to be made to others while running business. This includes the wages, rents or materials which are due in the contract. The explicit cost is the expense done in business which can easily be identified and accounted for in the business at any stage. The explicit cost represents the out flows of cash in clear and obvious terms. When any out flow of credit occurs in a... 1,551 Words | 5 Pages
  • Elements of Cost - 9912 Words Lesson-13 Elements of Cost and Cost Sheet Learning Objectives • • • To understand the elements of cost To classify overheads on different bases To prepare a cost sheet Elements of Cost Raw materials are converted into finished products by a manufacturing concern with the help of labor, plants etc. The elements that constitute the cost of manufacturing are known as elements of cost. The elements of cost include the following: • • • Material Labor Expenses Each of these elements is again... 9,912 Words | 34 Pages
  • Cost Acc - 1315 Words Name: Class: Cost Accounting Date: 02.12.2012 Quiz 5 1) Absorption costing: A) expenses marketing costs as cost of goods sold B) treats direct manufacturing costs as a period cost C) includes fixed manufacturing overhead as an inventoriable cost D) is required for internal reports to managers 2) Variable costing: A) expenses administrative costs as cost of goods sold B) treats direct manufacturing costs as a product cost C) includes fixed manufacturing overhead as an... 1,315 Words | 6 Pages
  • Cost and Revenues - 1570 Words Costs and Revenues What is cost? If you go to a store and like an item and you want to buy it, which of the following questions would you ask: What’s the price of …..? 0R How much does …. cost? Examples of costs – set-up Examples of costs - running Fixed Costs 5000 What happened to the fixed costs if for some reason the company had technical problems and was unable to produce for 2 weeks? What happens if the landlord decided to raise the rent due to high property prices... 1,570 Words | 6 Pages
  • Cost Control - 2692 Words THE COST AND SALES CONCEPT Cost is defined as a reduction in the value of an asset for the purpose of securing benefit or gain. Cost is defined in a hotel and restaurant as the expense to a hotel or restaurant for goods or services when the goods are consumed or the services are rendered. KINDS OF COSTS 1. Fixed costs – are those that are normally unaffected by changes in sales volume. They are said to have little direct relationship to the business volume because they do not change... 2,692 Words | 12 Pages
  • Amalgamation: Costs - 11384 Words AMALGAMATION, ABSORBTION & EXTERNAL RECONSTRUCTION Introduction In accounting parlance, amalgamation means merger of two or more companies into one new or existing company. Absorption, on the other hand, refers to acquisition of business of one company by another company. But it may be noted that the Companies Act, 1956 does not make any distinction between amalgamation and absorption. Infact, the Companies Act, 1956 does not properly define the terms amalgamation and... 11,384 Words | 35 Pages
  • Indirect Costs - 585 Words The Bridgeton case introduced a relatively simple costing system: DM, DL, and one pool of indirect, support, or overhead costs. The one and only "cost pool" containing all overhead (OH) costs was allocated on the basis of DL$. In this case, the direct costs seem to be largely variable (i.e., they vary proportionally with production volume), whereas some of the indirect costs are relatively variable and others are largely fixed. Case in point: Not all INDIRECT costs are necessarily FIXED. To... 585 Words | 2 Pages

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