Total cost Essays & Research Papers

Best Total cost Essays

  • 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
  • Economic: Total Cost - 1064 Words
    Review Question #3 Principles of Microeconomics Spring 2010 1. Your cousin Vinnie owns a painting company with fixed costs of $200 and the schedule for variable costs as below. What is the efficient scale of the painting company? Quantity of Houses Painted per Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | Variable Costs | $10 | $20 | $40 | $80 | $160 | $320 | $640 | 2. Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the...
    1,064 Words | 4 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
  • 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
  • All Total cost Essays

  • 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
  • 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: david.huelsbeck@unimelb.edu.au 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
  • 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 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
  • 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
  • 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
  • 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
  • Cost Control - 14192 Words
     CONTENTS 1 EXECUTIVE SUMMARY 2 INTRODUCTION 3 - 7 STUDY OF OBJECTIVES, SCOPE & LIMITATION 8 RESEARCH METHODOLOGY 9 - 12 COMPANY PROFILE 13 – 20 CONCEPTUAL BACKGROUND 21 - 25 COMPETITIVENESS OF BUSINESS PROCESS INTEGRATION 26- 65 ANALYSIS & INTREPRETATION 66 - 81 PORTER’S FIVE FORCES MODEL 82 - 84 SWOT ANALYSIS 85 - 87 FINDINGS AND SUGGESTIONS 88 - 89 CONCLUSION 90 ANNEXURE 91 - 92 BIBLIOGRAPHY 93 1. EXECUTIVE SUMMARY This project is done at GARDEN...
    14,192 Words | 58 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
  • 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 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
  • Cost Accounting - 2254 Words
    Transfer Pricing Q 1 of 8 Des Moines Valley Company Des Moines Valley Company has two divisions, Computer Services and Management Advisory Services. In addition to their external customers, each division performs work for the other division. The external fees earned by each division in 19x1 were $200,000 for Computer Services and $350,000 for Management Advisory Services. Computer Services worked 3,000 hours for Management Advisory Services, who, in turn, worked 1,200 hours for Computer...
    2,254 Words | 9 Pages
  • 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
  • Cost Accounting - 13946 Words
    CHAPTER 3 COST-VOLUME-PROFIT ANALYSIS TRUE/FALSE 1. To perform cost-volume-profit analysis, a company must be able to separate costs into fixed and variable components. Answer: True Difficulty: 1 Objective: 1 Terms to Learn: cost-volume-profit (CVP) analysis 2. Cost-volume-profit analysis may be used for multi-product analysis when the proportion of different products remains constant. Answer: True Difficulty: 1 Objective: 1 Terms to Learn:...
    13,946 Words | 68 Pages
  • Cost Accounting - 9310 Words
    Cost Classifications and Estimation 2.0 Introduction Cost classification may be defined as ‘the arrangement of cost items in a logical sequence having regard to their nature and purpose to be fulfilled’. The term cost must be qualified when in use in order that its precise meaning is established in a particular situation; however, cost refers to the amount of resources that have been diverted from other uses or sacrificed so as to achieve the desired objective. But the term is used to refer to...
    9,310 Words | 35 Pages
  • Marginal Cost - 828 Words
    Abstract There are a lot of decisions that have to be made when running a business. One of those decisions is when to buy new machines or equipment or upgrade the machines or equipment that the business already has. Using analysis of the needs of the business and how the new equipment will help the business to function and the cost of the product will determine what the managers of the business decides.   Marginal costs are change in total costs divided by change in output. Marginal...
    828 Words | 4 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
  • cost accounting - 272 Words
    2-22 Variable costs and fixed costs. Consolidated Minerals (CM) owns the rights to extract minerals from beach sands on Fraser Island. CM has costs in three areas: a. Payment to a mining subcontractor who charges $80 per ton of beach sand mined and returned to the beach (after being processed on the mainland to extract three minerals: ilmenite, rutile, and zircon). b. Payment of a government mining and environmental tax of $50 per ton of beach sand mined. c. Payment to a barge operator....
    272 Words | 1 Page
  • Introduction to Cost - 1335 Words
    CONFIDENTIAL AC/OCT 2010/ACC116/165/211 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE COURSE CODE EXAMINATION TIME INTRODUCTION TO COST ACCOUNTING / COST ACCOUNTING ACC116/165/211 OCTOBER 2010 3 HOURS INSTRUCTIONS TO CANDIDATES 1. 2. 3. This question paper consists of five (5) questions. Answer ALL questions in the Answer Booklet. Start each answer on a new page. Do not bring any material into the examination room unless permission is given by the invigilator. Please check to...
    1,335 Words | 7 Pages
  • Cost Reduction - 8986 Words
    BANSILAL RAMNATH AGRAWAL CHARITABLE TRUST S VISHWKARMA INSTITUTE OF MANAGEMENT KONDHWA, PUNE 411048 A PROJECT REPORT ON COSTING ANDCOST REDUCTION OF ROTARY AIR LOCK VALVE AT SNEHA INDUSTRIES SUBMITTED BY PRASHANT R. TAMBEKAR MBA II SUBMITTED IN PARTIAL FULFILMENT FOR DEGREE OF MASTER OF BUSINESS ADMINISTRATION DURING THE YEAR 2006-2007 -1- DATE: - 5TH AUGUST 2006 TO WHOMSOEVER IT MAY CONCERN This is to certify that Mr. PRASHANT R. TAMBEKAR, a MBA student of...
    8,986 Words | 37 Pages
  • Cost Accounting - 564 Words
    1. Determination of per Unit Total Costs. The estimated unit costs for Hoteling Industries, when operating at a production and sales level of 10,000 units, are as follows: Cost Item Estimated Unit Cost Direct materials $15 Direct labor 10 Variable factory overhead 8 Fixed factory overhead 5 Variable marketing 4 Fixed marketing 3 Required: (1) Identify the estimated conversion cost per unit. (2) Identify the estimated prime cost per unit. (3) Determine the estimated total variable cost...
    564 Words | 3 Pages
  • Cost Control - 2059 Words
    Chapter 18 Test Bank True/False Questions 1. Indirect compensation includes free meals, life insurance, and discounts on accommodations. (T) * It is a contract between employee and employer * Aim to attract and keep loyal employees * Includes: paid vacation; health benefits; life insurance; free meals; free living accommodation; use of recreational facilities operated by the employer; discounts on accommodations; use of a company vehicle; reimbursement for outside classes;...
    2,059 Words | 10 Pages
  • Cost Behavior - 444 Words
    Cost Behavior Cost behavior is term for describing whether a cost changes when the level of output changes. The cost can vary proportionately with the changes in the level of activity or unaffected by changes in the level of activity. Costs can be variable, fixed, or mixed. A cost that does not change in total as output changes is a fixed cost. A variable cost, on the other hand, increases in total with an increase in output and decreases in total with a decrease in output. Understanding how...
    444 Words | 2 Pages
  • Costs and Location - 1204 Words
    1. A car rental agency uses 96 boxes of staples a year. The boxes cost $4 each. It costs $10 to order staples, and carrying costs are $0.80 per box on an annual basis. Determine: (A) the order quantity that will minimize the sum of ordering and holding boxes of staples (B) the annual cost of ordering and carrying the boxes of staples 2. . A service garage uses 120 boxes of cleaning cloths a year. The boxes cost $6 each. Ordering cost is $3 and holding cost is 10 percent of purchase cost...
    1,204 Words | 4 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
  • Cost Behaviour - 7598 Words
    CHAPTER 3 ACTIVITY COST BEHAVIOR LEARNING OBJECTIVES AFTER STUDYING THIS CHAPTER, YOU SHOULD BE ABLE TO: 1. Define and describe fixed, variable, and mixed costs. 2. Explain the use of the resources and activities and their relationship to cost behavior. 3. Separate mixed costs into their fixed and variable components using the high-low method, the scatterplot method, and the method of least squares. 4. Evaluate the reliability of the cost formula. 5. Explain how multiple...
    7,598 Words | 34 Pages
  • Cost Accounting - 9643 Words
    Cost Accounting: A Managerial Emphasis, EXHIBIT 11-1 Accounting Information and the Decision Process FIVE-STEP SEQUENCE Step 1: Gathering Information AN ILLUSTRATION The current manufacturing line uses 20 employees, 15 operating machines, and 5 handling materials, for a total cost of $640,000. The rearrangement of the manufacturing assembly line is expected to eliminate materials-handling costs, equivalent to $160,000. The cost of the rearrangement will be $90,000....
    9,643 Words | 61 Pages
  • Cost Accounting - 4228 Words
    ------------------------------------------------- Chapter 2—Cost Terminology and Cost Behaviors MULTIPLE CHOICE 1. The term "relevant range" as used in cost accounting means the range over which a. | costs may fluctuate. | b. | cost relationships are valid. | c. | production may vary. | d. | relevant costs are incurred. | ANS: B PTS: 1 DIF: Easy OBJ: 2-2 NAT: AACSB: Reflective Thinking LOC: AICPA Functional Competencies: Measurement, Reporting...
    4,228 Words | 26 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 - 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
  • Marginal Cost - 909 Words
    1. Differentiate the following: (a) y = 10 x3 - 10 x2 + 4x + 2 (e) y = [pic] (b) y = [pic] (f) y = ( 4 + x ) ( x - 1 ) (c) y = [pic] (g) 2y = 3 x2 + 10 (d) y =[pic] (h) x y = 2 x2 - 5 x + 4 2. Find the integral of the following: (a) [pic] (e) [pic] (b) [pic] (f) [pic] (c) [pic] (g) [pic] (d) [pic] 3. Find the x value of the turning points on the graph of y = [pic] and determine whether it is a maximum or a minimun point. 4. Find the...
    909 Words | 3 Pages
  • Costs and Price - 1595 Words
    Week I Quiz Results/Answers ECO561 1. Revenue increases when * producer surplus increases 2. An increase in the price of an inelastic good * increases revenues 3. Price elasticity of Demand increases when * people become less price sensitive over time 4. The purpose of a market in a market system is to * bring buyers and sellers into contact 5. By specializing in the production of one good, a company is able to benefit from economies of scale which increases its revenue....
    1,595 Words | 7 Pages
  • Cost Accounting - 1759 Words
    Biyani's Think Tank Concept based notes Cost Accounting [ B.Com. Part-II] B.N. Gaur MBA, PGDBM, Lecturer Deptt. of Commerce & Management Biyani Girls College, Jaipur Fore more detail:- http://www.gurukpo.com Published by : Think Tanks Biyani Group of Colleges Concept & Copyright : ©Biyani Shikshan Samiti Sector-3, Vidhyadhar Nagar, Jaipur-302 023 (Rajasthan) Ph : 0141-2338371, 2338591-95 • Fax : 0141-2338007 E-mail : acad@biyanicolleges.org Website :www.gurukpo.com;...
    1,759 Words | 6 Pages
  • Cost Classification - 2335 Words
    Cost Classification Introduction: In this assignment I will be discussing how costs incurred in any organization may be classified in a number of different ways for a number of different purposes. I will also be looking to find companies that use a variety of different costing techniques and methods. I will also be discussing the comparisons between marginal and absorption costing and how the concept of activity based costing can also be compared with these. To complete the...
    2,335 Words | 9 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
  • 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
  • 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
  • Cost of Production & different types of cost of production
    Cost of Production Fixed costs are those that do not vary with output and typically include rents, insurance, depreciation, set-up costs, and normal profit. They are also called overheads. Variable costs are costs that do vary with output, and they are also called direct costs. Examples of typical variable costs include fuel, raw materials, and some labour costs. An example Production costs Consider the following hypothetical example of a boat building firm. The total fixed costs, TFC,...
    667 Words | 7 Pages
  • Cost, Volume, and Profit Formulas
    Cost, Volume, and Profit Formulas All businesses require becoming profitable or at some point they will fail. Accounting plays an essential role in determining if the company will become successful and continue to do so over time. Using well-defined formulas in order to assess the exact numbers will facilitate the actions a company needs to carry out in order to maintain its goals. The accounting department would look at the cost-volume-profit analysis to concentrate on the different...
    741 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 accounting 2 - 1819 Words
    1/ Variable Costs: The variable cost will be 40% higher [ an increase of 21,000 - 15,000=6,000 units] Direct Material used 1,060,000 Variable Costs: Direct Labor 1,904,000 Direct material used [ 1,060,000 *1.4] 1,484,000 Unit costs [ 6,335,600 / 21,000] =$ 301.7 Indirect Materials and supplies 247,000 Direct Labor [ 1,904,000 * 1.4] 2,665,600 Variable Cost/ Unit = 228.27 at both 15k & 21k units Power to run plant eqip 213,000 Indirect...
    1,819 Words | 7 Pages
  • Cost Volume Profit Analysis
    COST-VOLUME PROFIT (CVP) ANALYSIS This is a technique used for planning short-term run profits by finding the relationship between profits and factors that influence profits. The following factors are taken to be influencing profits:- • Selling price • Variable cost of production • Fixed costs • Activity level (production and sales units) Profit planning is based on break-even analysis and can be worked out using either; a) Algebraic method b) Contribution method c)...
    1,356 Words | 7 Pages
  • Management Accounting - Cost Classification
    COST CLASSIFICATION ASSIGNMENT To classify the various costs would first of all require a definition between the two types of accounting that practically all businesses have to face and a number of key terms which are equally important. These are management accounting and financial accounting. 1. THE DIFFERENCE BETWEEN MANAGEMENT & FINANCIAL ACCOUNTING: Management accounting is concerned with decision making, cost apportionment, planning and control. It is based within the...
    2,254 Words | 7 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
  • Types of Costs in Accounting - 712 Words
    Types of costs Classification of costs: • Materials – costs of raw materials, components and other goods used. • Labor – cost of employees wages and salaries. • Expenses – costs which cannot be included in materials and labor. Variable costs – these costs varies directly with changes in the level of quantity, over a defined period of time. Fixed costs – are not affected by the changes in the level of activity, over a defined period of time. Semi variable costs –...
    712 Words | 4 Pages
  • Cost accounting soution manual
    Cost Accounting Chapter 2 - Costs – Concepts and classification Problem 1 Problem 2 1. Direct 6. Direct 1. Manufacturing 6. Manufacturing 2. Indirect 7. Direct 2. Selling 7. Administrative 3. Direct 8. Indirect 3. Manufacturing 8. Selling 4. Direct 9. Direct 4. Selling 9. Administrative 5. Direct 10.Direct 5. Administrative 10.Selling Problem 3 1. Variable Product Direct 2. Variable Product Direct 3. Fixed Product Indirect 4. Variable Product Direct 5....
    8,336 Words | 128 Pages
  • Marginal Cost and Correct Answer
    Question 1 5 out of 5 points Economic profit is defined as the difference between revenue and ____. Answer Selected Answer: total economic cost Correct Answer: total economic cost Question 2 5 out of 5 points Recently, the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of...
    1,391 Words | 9 Pages
  • Cost Volume Profit Formula
    Cost, Volume, and Profit Formulas Heather Jauregui University of Phoenix of Axia College “The Cost-volume-profit (CVP) analysis is the study of the effects of changes in costs and volume on a company’s profits.” (Kimmel, P., Weygandt, J., & Kieso, D. 2003) The analysis is used to maximize efficiency in a business. In order to be effective the CVP analysis has to make several assumptions. These assumptions are that the costs can be fitted into either fixed or variable categories. The...
    664 Words | 3 Pages
  • Costs and Profit Assignment - 1254 Words
    Assignment 2 (20 points) Assignment 2: Costs and Profit Instructions Save this file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson's assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save...
    1,254 Words | 4 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
  • Costs and Factor Inputs - 2055 Words
    Written by: Edmund Quek CHAPTER 6 THE THEORY OF COST LECTURE OUTLINE 1 2 2.1 2.2 2.3 2.4 2.5 2.6 3 3.1 3.2 3.3 INTRODUCTION SHORT-RUN THEORY OF COST Distinction between fixed cost and variable cost Total cost Marginal cost Average cost Relationship between marginal cost and average cost Optimum capacity LONG-RUN THEORY OF COST Cost minimisation in the long run Long-run average cost Productive efficiency References John Sloman, Economics William A. McEachern, Economics Richard G. Lipsey...
    2,055 Words | 9 Pages
  • Cost Behavior Defined - 814 Words
    I. Cost behavior defined Module 4 Review Questions The left column lists several cost classifications. The right column presents short definitions of those costs. In the blank space beside each of the numbers in the right column, write the letter of the cost best described by the definition. A. Curvilinear cost B. Step-wise cost C. Fixed cost D. Mixed cost E. Variable cost F. Total Cost ___E_1. This cost increases in direct proportion to increases in volume; its amount is constant for each...
    814 Words | 4 Pages
  • Marginal and Absorption Cost - 1574 Words
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