7. What is the amount of thefixed cost element of inspectioncost? *$4,900$4,930$5,780$11,050None of the above8. If the corporation expectsthat the number of unitsproduced for October will be910 units, what is the totalexpected inspection cost forOctober? *O $4,900$12,635$15,470O $20,370None of the above The management of GregoryCorporation believes that theinspection cost is a mixed cost thatdepends on units produced. The high-low method is used to estimate thevariable and fixed components of thiscost. The total inspection costs atGregory's factory are listed below.MonthUnits ProducedInspection CostJanuary990$21,730February985$21,645March807$18,619April650$15,950May760$17,820June870$19,690July8OSS18,585August810SI8,670September700$16,800

Variable cost: It is the cost that changes with the change in level of units produced. e.g., direct…

7. What is the amount of the fixed cost element of inspection cost? $4,900 $4,930 $5,780 $11,050 None of the above 8. If the corporation expects that the number of units produced for October will be 910 units, what is the total expected inspection cost for October? * $4,900 $12,635 $15,470 $20,370 None of the above

7. What is the amount of the fixed cost element of inspection cost? $4,900 $4,930 $5,780 $11,050 None of the above 8. If the corporation expects that the number of units produced for October will be 910 units, what is the total expected inspection cost for October? * $4,900 $12,635 $15,470 $20,370 None of the above

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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