what is the difference in unit costs?
Q: What are transferred in costs? When do they occur?
A: Transferred in costs: Cost that is assigned to partially completed products that have been finished…
Q: What is Unit-Profit or Unit-Cost Calculation?
A: Cost: It is the economic value of resources incurred by a firm to manufacture a product or render…
Q: what is variable cost per unit?
A: Variable Cost = Cost which changes with change in units. Variable Cost Per unit = It is Variable…
Q: What is the difference between product costs and period costs?
A: Step 1 Costs incurred for the production of goods is referred to as product cost. Direct materials,…
Q: what are the differences between the FIFO, LIFO, and the average cost?
A: Inventory: It refers to the items held by an organization which were in various forms like raw…
Q: How do step-wise costs and curvilinear costs differ?
A: There are different types of costs such as variable costs, fixed costs, step costs, and curvilinear…
Q: What is the variable cost per unit produced?
A: Variable costs are those costs which changes directly with change in level of activity. For example,…
Q: What is the purpose for determining the cost per equivalent unit?
A: Equivalent units of production are applied to the work-in process inventory at the end of an…
Q: define direct material costs?
A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…
Q: How to find the unit cost
A: Meaning A unit cost is a total expenditure incurred by a company to produce, store, and sell one…
Q: How does an engineered cost differ from a discretionary cost?
A:
Q: What does it mean to externalize costs?
A: Externalizing costs means generating profits by reducing the indirect costs by imposing them on…
Q: What is the difference between prime costs and conversion costs?
A: Prime cost includes direct expenses related to Manufacturing of a goods. Major component of Prime…
Q: define direct manufacturing-labor costs?
A: Cost: It refers to the economic value incurred by a company to produce a product or deliver a…
Q: What two assumptions are frequently made when estimating a cost function?
A: Cost Function:Cost function represents the basic change that occurs in the total cost due to the…
Q: Define unit costs.
A: Unit cost is the cost incurred by the company in the production, storage and selling of one unit of…
Q: Cost per unit for material?
A: Weighted average method is one of the method of process costing. Under this method, equivalent units…
Q: What is variable costing?
A: Variable Costing: “Variable costing is a method that allocates only variable manufacturing costs to…
Q: Is labor a true variable cost?
A: Direct labor cost is the cost involved in payment of wages to the laborers who are involved in…
Q: Briefly define total cost and marginal cost.
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: What are the prime costs? Conversion costs?
A: Prime cost: Prime cost includes cost which are related to direcly production of Finished goods. This…
Q: What is cost approach measurement?
A: A process that involves finding out the economic value or the fair value of a business entity refers…
Q: What is cost management?
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: Why is it essential to determine unit costs or profits?
A: Determining unit cost means to find out total cost incurred on a particular unit It is determined by…
Q: What is the difference between joint costs and common costs?
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Describe the difference between prime costs and conversion costs?
A: Solution:- Difference between prime costs and conversion costs as follows under:-
Q: Whats the difference between prime and conversion costs?
A: Prime cost: It is the cost which is incurred for manufacturing a product. It includes direct…
Q: What is total cost?
A: The answer is explained as follows:
Q: What is product costs? Give an example?
A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…
Q: How is conversion costs per equivalent unit calculated?
A: The cost per unit is calculated as total cost divided by number of units.
Q: What is the definition of a cost object?
A: This question explains about the cost object.
Q: What is cost hierarchy?
A: Cost: Cost can be defined as the cash and cash equivalent which is incurred against the products…
Q: What is operation costing?
A:
Q: How is the cost per equivalent unit of production calculated?
A:
Q: How do period costs differ from product costs?
A:
Q: What is recalculated cost?
A: Cost: It implies to the amount that is paid or spent on a specified task or activity. It indicates…
Q: a. What was Product Z’s unit cost under absorption costing? b. What was Product Z’s unit cost under…
A: Absorption costing and Variable costing are two types of costing methods that are being used in the…
Q: What Is Total Cost Reporting?
A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…
Q: etween labor costs and profit per unit?
A: All expenditures spent by an employer as a result of the employment of labor are referred to as…
Q: Why are fixed-overhead costs sometimes called capacity-producing costs?
A: Overhead costs Overhead cost or overhead expenses refer to the cost which is used to increase the…
Q: Min z? reglar unit cost? and suber unit cost?
A: Type A Type B Unit cost Regular fuel 2 units 2 units 1$ Super fuel 2 units 4 units 2$ New…
Q: Define direct material costs with an example?
A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…
Q: What are the different purposes for which we measure product costs?
A: Product cost: Product cost is the cost incurred to manufacture a product, it includes the material…
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- Mountain Fun manufactures snowboards. Its cost of making 2,100 bindings is as follows: (Click the icon to view the costs.) Suppose Hemingway will sell bindings to Mountain Fun for $14 each. Mountain Fun would pay $3 per unit to transport the bindings to its manufacturing plant, where it would add its own logo at a cost of $0.70 per binding. Read the requirements. Requirement 1. Mountain Fun's accountants predict that purchasing the bindings from Hemingway will enable the company to avoid $1,800 of fixed overhead. Prepare an analysis to show whether Mountain Fun should make or buy the bindings. (Only enter the net relevant costs. For the Difference column, use a minus sign or parentheses only when the cost of outsourcing exceeds the cost of making the bindings in-house.) Variable costs: Binding costs Direct materials Direct labor Variable overhead Fixed costs Purchase price from Hemingway Transportation Logo Total differential cost of 2,100 bindings Should Mountain Fun make or buy the…Walton Bike Company makes the frames used to build its bicycles. During year 2, Walton made 21,000 frames; the costs incurred follow. Unit-level materials costs (21,000 units x $49) Unit-level labor costs (21,000 units × $56) Unit-level overhead costs (21,000 x $11) Depreciation on manufacturing equipment Bike frame production supervisor's salary Inventory holding costs Allocated portion of facility-level costs $1,029,000 1,176,000 231,000 90,000 93,400 280,000 590,000 Total costs $3,489,400 Walton has an opportunity to purchase frames for $120 each. Additional Information 1. The manufacturing equipment, which originally cost $550,000, has a book value of $410,000, a remaining useful life of 4 years, and a zero salvage value. If the equipment is not used to produce bicycle frames, it can be leased for $76,000 per year. 2. Walton has the opportunity to purchase for $990,000 new manufacturing equipment that will have an expected useful life of 4 years and a salvage value of $47,600. This…Cool Boards manufactures snowboards. Its cost of making 2,100 bindings is as follows: (Click the icon to view the costs.) Suppose Hemingway will sell bindings to Cool Boards for $16 each. Cool Boards would pay $3 per unit to transport the bindings to its manufacturing plant, where it would add its own logo at a cost of $0.40 per binding. Requirements 1. Cool Boards' accountants predict that purchasing the bindings from Hemingway will enable the company to avoid $2,400 of fixed overhead. Prepare an analysis to show whether Cool Boards should make or buy the bindings. 2. The facilities freed by purchasing bindings from Hemingway can be used to manufacture another product that will contribute $3,500 to profit. Total fixed costs will be the same as if Cool Boards had produced the bindings. Show which alternative makes the best use of Cool Boards' facilities: (a) make bindings, (b) buy bindings and leave facilities idle, or (c) buy bindings and make another product. Print - X Done Data…
- A company is going to buy a new machine for manufacturing its product. Four different machines are available. Cost, operating and other expenses are as follows. Money is worth 17% before taxes to the company. Which machine should be chosen? Machine A Machine B Machine C Machine D P 24,000 P 30,000 P 49,600 P 52,000 P 2,020 (FC) (ОСУ уear P 1,300 P 1,360 P 2,400 (LC)/year P 11,600 P 9,320 P 4,200 P 2,000 (МС) year P 2,800 1,900 1,300 700 (IT)/year P 720 P 900 P 1,488 P 1,560 Life 5 years 5 years 5 years 5 yearsWilliams Performance Co. manufactures sports cars. After making a sale, the salesperson sends the car to be detailed before the customer takes it home. Detailing the car takes 15 minutes at a cost of $16 per hour for direct labor and $6 per car for materials. If the average salesperson sells six cars per day, what is the average cost per 5-day week for detailing cars? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) What is the answer/how do you get it?Cool Boards manufactures snowboards. Its cost of making 1,800 bindings is as follows: (Click the icon to view the costs.) Suppose Lewis will sell bindings to Cool Boards for $16 each. Cool Boards would pay $3 per unit to transport the bindings to its manufacturing plant, where it would add its own logo at a cost of $0.70 per binding. Read the requirements. Requirement 1. Cool Boards' accountants predict that purchasing the bindings from Lewis will enable the company to avoid $1,800 of fixed overhead. Prepare an analysis to show whether Cool Boards should make or buy the bindings. (Only enter the net relevant costs. For the Difference column, use a minus sign or parentheses only when the cost of outsourcing exceeds the cost of making the bindings in-house.) Variable costs: Direct materials Direct labor Variable overhead Binding costs Fixed costs Purchase price from Lewis Transportation Logo Total differential cost of 1,800 bindings Should Cool Boards make or buy the bindings? Decision:…
- Dahl Corporation has just built a machine to produce car doors. Dahl had to build this machine because it couldn’t purchase one that met its specifications. The following are the costs related to the machine’s construction and the first month of operations: • Construction materials, $20,000 • Labor, $9,000 (construction, $3,000; testing, $1,000; operations, $5,000) • Engineering fees, $5,000 • Utilities, $4,000 (construction, $1,000; testing, $1,000; operations, $2,000) What is the initial value of the machine? a. $28,000 b. $29,000 c. $31,000 d. $38,000Accounting A plant engineer wishes to know which of two types of lightbulbs should be used to light a warehouse. The bulbs that are currently used cost $42.70 per bulb and last 14,500 hours before burning out. The new bulb (at $57.3 per bulb) provides the same amount of light and consumes the same amount of energy, but it lasts twice as long. The labor cost to change a bulb is$14.00. The lights are on 20 hours a day, 365 days a year. (Assume that the firm's marginal tax rate is 25%.) If the firm's MARR is 16%, what is the maximum price (per bulb) the engineer should be willing to pay to switch to the new bulb? Round the service life of the old bulb to the nearest whole number..The production department is proposing the purchase of an automatic insertion machine. It has identified three machines and has asked the accountant to analyze them to determine which one has the best average rate of return. Machine A Machine B Machine C $83,087.40 $73,001.40 322,364.00 276,958.00 486,676.00 Estimated average income $45,130.96 Average investment Oa. Machine B Ob. Machine C Oc. Machine A Od. Machines B and C have the same preferred average rate of return.
- A manager must decide between two machines. The manager will take into account each machine's operating costs and initial costs, and its breakdown and repair times. Machine A has a projected average operating time of 131 hours and a projected average repair time of 4 hours. Projected times for machine B are an average operating time of 61 hours and a repair time of 5 hours. What are the projected availabilities of each machine? (Round your answers to 3 decimal places.) Answer is complete but not entirely correct. Availability 0.952 0.945 Machine A Machine BA company is planning to manufacture computer desks. The fixed cost will be $60,000 and it will cost $200 to produce each desk. Each desk will be sold for $450. a. Write the cost function, C, of producing x desks. b. Write the revenue function, R, from the sale of x desks. c. Determine the break-even point. Describe what thisCycle USA is in the business of making innertubes for bicycles. They manufacture both large and small innertubes. Both of the tubes use the same material but require different amounts of material. The material usage is as follows: Large Small Rubber 3 feet at $0.25 per foot 1.25 feet at $0.25 per foot Connector 1 at $0.03 1 at $0.03 On June 1, Cycle USA purchased 25,000 feet of rubber for $6,875. During the month of June, Cycle USA used 14,500 feet of rubber to make 3,000 large tubes and 4,000 small tubes. A. Calculate the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? Direct Materials Price Variance Direct Material Quantity Variance Total Direct Materials Cost Variance B. If Cycle USA bought 10,000 connectors costing $310, what would the direct materials price variance be for the connectors? Direct Materials Price…