Toys produced... 40,000 80,000 120,000 Total costs: $ 720,000 600,000 $1,320,000 Total varlable costs . (d) Total fixed costs (e) (k) Total costs.... (f) Cost per unit: Varlable cost per unit . Flxed cost per unit.... Total cost per unit . (a) (m) (b) (h) (c) (0

Toys produced... 40,000 80,000 120,000 Total costs: $ 720,000 600,000 $1,320,000 Total varlable costs . (d) Total fixed costs (e) (k) Total costs.... (f) Cost per unit: Varlable cost per unit . Flxed cost per unit.... Total cost per unit . (a) (m) (b) (h) (c) (0

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11.16E

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

Relevant range and fixed and variable costs
Child Play Inc. manufactures electronic toys within a relevant range of 20,000 to 150,000 toys per year. Within this range, the following partially completed manufacturing cost schedule has been prepared:

Complete the cost schedule, identifying each cost by the appropriate letter (a) through (o)

Toys produced...
40,000
80,000
120,000
Total costs:
$ 720,000
600,000
$1,320,000
Total varlable costs .
(d)
Total fixed costs
(e)
(k)
Total costs....
(f)
Cost per unit:
Varlable cost per unit .
Flxed cost per unit....
Total cost per unit .
(a)
(m)
(b)
(h)
(c)
(0

Definition Definition Total cost of procuring or producing a product or the cost that an individual or business owner undertakes for the manufacturing of goods.

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