Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Total Total Total Machine Units Lumber Utilities Depreciation Produced Cost Cost Cost 5,000 shelves $50,000 $7,250 $145,000 10,000 shelves 100,000 13,000 145,000 20,000 shelves 200,000 24,500 145,000 25,000 shelves 250,000 30,250 145,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Variable Cost v Utilities Mixed Cost V Depreciation Fixed Cost v 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places. Fixed Portion Variable Portion Cost of Cost of Cost (per Unit) Lumber Utilities Depreciation

Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Total Total Total Machine Units Lumber Utilities Depreciation Produced Cost Cost Cost 5,000 shelves $50,000 $7,250 $145,000 10,000 shelves 100,000 13,000 145,000 20,000 shelves 200,000 24,500 145,000 25,000 shelves 250,000 30,250 145,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Variable Cost v Utilities Mixed Cost V Depreciation Fixed Cost v 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places. Fixed Portion Variable Portion Cost of Cost of Cost (per Unit) Lumber Utilities Depreciation

Name: Cost BehaviorCover-to-Cover Company is a manufacturer of shelving for
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Cost BehaviorCover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the costbehavior. After reviewing the data, complete requirements (1) and (2) that foll

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

See similar textbooks

Similar questions

Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. Wood used to produce desks ($125,00 per desk) Production labor used to produce desks ($15 per hour) Production supervisor salary ($45,000 per year) Depreciation on factory equipment ($60,000 per year) Selling and administrative expenses ($45,000 per year) Rent on corporate office ($44,000 per year) Nails, glue, and other materials required to produce desks (varies per desk) Utilities expenses for production facility Sales staff commission (5% of gross sales)
Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this years production: Â Ending inventory was 100% complete as to materials and 70% complete as to conversion, and the total materials cost is $57,540 and the total conversion cost is $36,036. Using the weighted-average method, what are the unit costs if the company transferred out 17,000 units? What is the value of the inventory transferred out and the value of the ending WIP inventory?
The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
Webster Company uses backflush costing to account for its manufacturing costs. The trigger points for recording inventory transactions are the purchase of materials, the completion of products, and the sale of completed products. Required: 1. Prepare journal entries, if needed, to account for the followingtransactions. a. Purchased raw materials on account, 135,000. b. Requisitioned raw materials to production, 135,000. c. Distributed direct labor costs, 20,000. d. Incurred manufacturing overhead costs, 80,000. (Use Various Credits for the credit part of the entry.) e. Cost of products completed, 235,000. f. Completed products sold for 355,000, on account. 2. Prepare any journal entries that would be different from theabove, if the only trigger points were the purchase of materialsand the sale of finished goods.
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000 $7,900 $135,000 12,000 shelves 144,000 14,800 135,000 24,000 shelves 288,000 28,600 135,000 30,000 shelves 360,000 35,500 135,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit)…
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000 $8,400 $125,000 12,000 shelves 144,000 15,300 125,000 24,000 shelves 288,000 29,100 125,000 30,000 shelves 360,000 36,000 125,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per…
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Units Total Total Total Machine Produced Lumber Cost Utilities Cost Depreciation Cost 11,000 shelves $132,000 $13,650 $125,000 22,000 shelves 264,000 26,300 125,000 44,000 shelves 528,000 51,600 125,000 55,000 shelves 660,000 64,250 125,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Variable Cost Fixed Cost Mixed Cost None of these Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N= Number of Units Produced, Total Costs =…
Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 7,000 shelves $84,000 $9,550 $140,000 14,000 shelves 168,000 17,600 140,000 28,000 shelves 336,000 33,700 140,000 35,000 shelves 420,000 41,750 140,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion…
Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000 $7,900 $135,000 12,000 shelves 144,000 14,800 135,000 24,000 shelves 288,000 28,600 135,000 30,000 shelves 360,000 35,500 135,000 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places. Cost Fixed Portionof Cost Variable Portionof Cost (per Unit) Lumber $fill in the blank…
Please show your computations using good accounting form through excel. Thank you! Problem: By products In Department III of SAMCIS Company, a portion of the materials (a by-product) is removed further processed and sold. The Company uses the reversal cost method to account for the by-product. Data for June include: Amount of by-product removed is 2000 units; Estimated sales price of by-product after processing further is P1.20/unit. Estimated processing cost after separation is P0.30 per unit and estimated selling expenses is 10% of the sales price. The estimated profit margin is 5% of the sales price. What is the total cost of the by-product?
Alis Company, a portion of the materials (a by-product) is removed further processed and sold. The Company uses the reversal cost method to account for the by-product. Data for June include: Amount of by-product removed is 2000 units; Estimated sales price of by-product after processing further is P1.20/unit. Estimated processing cost after separation is P0.30 per unit and estimated selling expenses is 10% of the sales price. The estimated profit margin is 5% of the sales price. What is the gain or loss on sale of the by-product if all of the units are sold at P1.50?
Please show your computations using good accounting form through excel. Thank you! Problem: Joint Cost In Department III of SAMCIS Company, a portion of the materials (a by-product) is removed further processed and sold. The Company uses the reversal cost method to account for the by-product. Data for June include: Amount of by-product removed is 2,000 units; Estimated sales price of by-product after processing further is P1.20/unit. Estimated processing cost after separation is P0.30 per unit; and estimated selling expenses is 10% of the sales price. The estimated profit margin is 5% of the sales price. What is the total cost of the by-product?