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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Suppose a company finds that shipping cost is $3,560 each month plus $6.70 per package shipped. What is the cost formula for monthly shipping cost? Identify the independent variable, the dependent variable, the fixed cost per month, and the variable rate.

To determine

Give the cost formula for monthly shipping cost. Also, identify the variable rate, fixed cost per month, independent and dependent variable.

Explanation

Cost:

Cost can be defined as the cash and cash equivalent which is incurred by the organization to produce products or its related services which will benefit the organization in the future.

The cost formula for monthly shipping cost:

Total Shipping Cost=Fixed Cost+(Per Unit Variable Cost×Number of Units)

Substitute $3,560 for fixed cost and $6.70 for variable cost per unit in the above formula

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