Question 5:The Information below is taken from production department of Salalah Company for April:The number of units produced is 10060. All amounts are in OMR.|Total Costs|500000Variable Cost?| 400000Fixed Cost|Direct material cost|Total labor cost|Manufacturing Overhead?1000009000030000Calculate:A. Find the missing information in the above table. Some values may not be applicable, explain.B. Calculate cost per unitC. Describe the production costs in the equation form Y =f+ vX,D. Assume Salalah intends to produce 10000 units next month. Calculate total production costsfor the month

As per formula, Total production cost= (Variable cost per unit × number of units) + Fixed cost

Total Costs 500000 Variable Cost Fixed Cost |Direct material cost Total labor cost | Manufacturing Overhead 400000 100000 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y f+ vX, D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month

Total Costs 500000 Variable Cost Fixed Cost |Direct material cost Total labor cost | Manufacturing Overhead 400000 100000 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y f+ vX, D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

See similar textbooks

Similar questions

Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?
Question 5: The Information below is taken from production department of Şalalab Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost 500000 ? ? Total labor cost 400000 100000 Manufacturing Overhead 90000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y =f+vX. D. Assume Şalalab intends to produce 10000 units next month. Calculate total production costs for the month
Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost 500000 ? ? Total labor cost ? 400000 100000 Manufacturing Overhead 90000 30000 ? Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y = f + vX. D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month Question 6: Find the missing information for different companies Output (units) Fixed Costs Variable Costs Total Costs Cost per unit Company A 4000 70000 50000 ? ? Company B 5000 80000 ? 140000 ? Company C 8000 30000 130000 ? ? Company D ? ? 80000 100000 20
Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost 500000 Direct material cost Total labor cost Manufacturing Overhead 90000 400000 100000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y =f+vX. D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month Question 6: Find the missing information for different companies Output (units) Fixed Costs Variable Costs Total Costs Cost per unit Company A Company B 4000 70000 50000 ? 5000 80000 140000 Company C 130000 8000 30000 Company D 80000 100000 20
Question 5: The Information below is taken from production department of Salalah Company for August: The number of units produced is 20000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost Total labor cost 800000 500000 110000 Manufacturing Overhead 100000 40000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y = f+ yvX. D. Assume Salalah intends to produce 30000 units next month. Calculate total production costs for the month (Ctrl) -
Question 1: The Information below is taken from production department of MSS Company for April: The number of units produced is 10000. All amounts are in $. Total Costs Variable Cost Fixed Cost Direct material cost 500000 ? ? Total labor cost ? 400000 100000 Manufacturing Overhead 90000 30000 ? Calculate: Find the missing information in the above table. Some values may not be applicable, explain. Calculate cost per unit Describe the production costs in the equation form Y = f + vX. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month
Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost 500000 ? Total labor cost Manufacturing Overhead ? 400000 100000 90000 30000 ? Calculate: A. B. Calculate cost per unit B. Describe the production costs in the equation form Y = f+ vX. C. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month
(c2) Estimated daily production costs for April 1 using both the high-low method and the regression model and actual manufacturing costs incurred on April 1 are provided here. Units manufactured Total cost 3,897 $296,512 Estimated cost using high-low method Estimated cost using the regression model Actual cost B $300,486 $296,149 $296,512 Identify which is the most reliable approach to estimating costs and explain why. I U T₁ T' IEEE J E H 3 99 = FEB á
Rose Company has a relevant range of production between 10,000 and 25,000 units. The following cost data represents average cost per unit for 15,000 units of production. Average Cost per Unit $12 Direct materials Direct labor 10 Indirect materials Fixed manufacturing overhead Variable manufacturing overhead Fixed selling and administrative expenses Variable sales commissions 4 3 8 25 Using the cost data from Rose Company, answer the following questions: 1. If 10,000 units are produced, what is the variable cost per unit? 2. If 18,000 units are produced, what is the variable cost per unit? 3. If 21,000 units are produced, what are the total variable costs? 4. If 11,000 units are produced, what are the total variable costs?
*(A)The Mortise Company has assembled the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Mortise has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation.Month Cost HoursJanuary $40,000 3,600 February 38,500 3,000 March 36,280 3,300 April 38,000 3,500 May 69,850 5,850 June 45,000 4,250Required:a. What is the slope coefficient?b. What is the constant for the estimated cost equation?c. What is the estimated cost function for the above data? d. What is the estimated total cost at an operating level of 3,100 hours? *(B) The XYY company has received an initial order for eight of its products (GGG). The information about products as follows: - Direct material cost per (GGG) $ 100,000 - Direct- assembly labor time for first GGG 4,000 labor-hours - Learning curve for assembly labor time per GGG 80% cumulative average time- Direct -assembly labor cost $ 50 per hour-…
Based on analyzing the relationship of total factory overhead (Y) to direct labor hours (X). The following relationship was found: Y = $1,000 + $2X The equation was probably found through the use of which of the following mathematical techniques?
Question 1: The following information relating to production and mixed costs are extracted from the book of a manufacturing fırm: Months Production (Units) Mixed costs January 6,800 $31,580 February 6,400 $30,420 March 7,200 $32,740 April 8,000 $35,060 May 6,600 $31,000 June 7,000 $32,160 Requirements: 1. Using high and low method, estimate the variable cost per unit and the fixed costs elements from the above information 2. Express the variable and fixed costs in the form Y=a+bx