The following is actual data from the two months of operations.PoundsShipping expense350$61,250500$72,500What is the best estimate of the total cost for shipping when production is expected to be 700 pounds?$91,500$80,500$35,000$87,500

The following is actual data from the two months of operations. Pounds Shipping expense 350 $61,250 50 $72,500 What is the best estimate of the total cost for shipping when production is expected to be 700 pounds? O $91,500 $80,500 $35,000 $87,500

The following is actual data from the two months of operations. Pounds Shipping expense 350 $61,250 50 $72,500 What is the best estimate of the total cost for shipping when production is expected to be 700 pounds? O $91,500 $80,500 $35,000 $87,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Assume the rate per hour is $15 and the cost per unit is $16,000 while the units produced is 8,000 units. Calculate the piece rate with guaranteed day rate of remuneration assuming that 8,800 hours were used to produce the entire unit. A. B. C. D. $100 000 $120 000 $140 000 $180 000
The following is actual data from the two months of operations. Shipping Pounds expense 350 $13,000 500 $15,250 What is the best estimate of the total cost for shipping when production is expected to be 600 pounds? $17,050 $ 7,750 O $16,750 O $9.000
The following is actual data from the two months of operations. Pounds Shipping expense 350 $61,250 500 $72,500 What is the best estimate of the total cost for shipping when production is expected to be 150 pounds? Group of answer choices $ 53,750 $48,750 $45,125 $46,250 $35,000
1. The more reliable sales amount from which to base projected sales is b) Latest year a) Latest month c) Latest 2 years d) Latest 5 years 2. Assume: Each factory worker can make 10 units of product per hour. Each worker's wage is P6 per hour. The total labor cost to finish 20,000 units of product is a) P6,000 b) P12,000 c) P120,000 d) P1,200,000 3. The following are steps in the financial planning process. Choose the correct order. A. Analysis and evaluation of projected financial statements B. Setting forecasts on sales, cost, expenses and capital expenditures C. Review and evaluation of projected financial plan D. Preparation of projected financial statements с) В-А-С-D a) C-A-D-B b) В-D-A-C d) A-C-B-D 4. Assume the following projections or forecasts: Retained earnings will increase by P75; current assets will increase by P200; current liabilities will spontaneously increase by P105. Funds need to increaseby a) P380 b) P240 c) P170 d) P20
Recent IT costs incurred each month at the head office of Dawn Ltd are detailed below. Apply the high/low method to establish how the cost behave and then select the correct prediction of cost for a month in which 770 client projects will be completed by the company month Number of clients project IT cost (£) 1 730 £116150 2 800 £123000 3 625 £112500 4 790 £120980 a. £94,200 b. £121,200 c. £122,000 d. £119,780
Julekha conversion period of 50 days, an average cullecuion period (DSO) uf 35 lays, and a payables deferral period of 25 days. Assume that cost of goods sold is 80% of Enterprises has an inventory sales. Julekha's annual cost of labour is Tk.550,00N) and annual cost of materials is Tk.750,000. ASsume a year = 360 days. a. What is the length of the firm's cash conversion cycle? b. II annual Sales Negus' Tk.4,380,(00) and all sales are on credit, what is the fim's investment in dCCDunts recrivahle? c. How many times per year does Negus Enterprises turn over its inventory? d. How much working capital linancing does Negus have to ensure to complete the cash convPision cycle are
Working details of Stockholm ltd for ensuring year is given below Production for the year 69000 units Finished Goods in the store 3 months Raw material in store 2 months Production Process 1 month Credit allowed by creditors 2 months Selling price per unit Rs50 Raw material 50% of selling price per unit Direct Wages 10 % of selling price per unit Overheads 20 % of selling price There is a regular production and sales cycle and wages and overheads accrued evenly , wages are paid in the next month accrual , material is introduced in the beginning of production cycle.i) Find out Working capital finance
Discussion Question The table below shows monthly data collected on production costs and on the number of units produced over a twelve-month period. Month Total Production Cost Level of Activity (Units Produced) July $230,000 3,500 August 250,000 3,750 September 260,000 3,800 October 220,000 3,400 November 340,000 5,800 December 330,000 5,500 January 200,000 2,900 February 210,000 3,300 March 240,000 3,600 April 380,000 5,900 May 350,000 5,600 June 290,000 5,000 a) Determine the variable cost per unit and the fixed cost using the high-low method. b) What is the equation of the total mixed cost function? c) Based on the High-Low method, what is the total production costs if 6,500 units are produced? d) Prepare the scatter diagram and insert the trendline or line of best-fit. Use a scale of 2 cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the…
Discussion Question The table below shows monthly data collected on production costs and on the number of units produced over a twelve-month period. Month Total Production Cost Level of Activity (Units Produced) July $230,000 3,500 August 250,000 3,750 September 260,000 3,800 October 220,000 3,400 November 340,000 5,800 December 330,000 5,500 January 200,000 2,900 February 210,000 3,300 March 240,000 3,600 April 380,000 5,900 May 350,000 5,600 June 290,000 5,000 d) Prepare the scatter diagram and insert the trendline or line of best-fit. Use a scale of 2 cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the y-axis. e) Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units.) f) Which of the two methods appear more appropriate? Explain your answer.
Anticipated unit sales are January, 5 DOO; February, 4 D00; and March 8 DOO. Finished goods are consistently maintained at 80% of the following month's sales. If units cost $10 each to produce, how much is February's total cost of production? A $0 B. $40,000 C. $72,000 D. $80,000 E. None of these.
Discussion Question The table below shows monthly data collected on production costs and on the number of units produced over a twelve month period. Level of Activity (Units Produced) Month Total Production Costs July $230,000 3,500 August 250,000 3,750 September 260,000 3,800 October 220,000 3,400 November 340,000 5,800 December 330,000 5,500 January 200,000 2,900 February 210,000 3,300 March 240,000 3,600 April 380,000 5,900 Мay 350,000 5,600 June 290,000 5,000 a) Determine the variable cost per unit and the fixed cost using the high-low method. b) What is the equation of the total mixed cost function? c) Prepare the scatter diagram, clearly showing any outliers. d) Using the line of best-fit, determine the company's fixed cost per month and the variable cost per unit. (use o g 5,000 units.) e) In view of the department's cost behaviour pattern, which of the two methods appear more appropriate? Explain your answer.
esc ! 1 Q A Current Attempt in Progress Sheridan Company collected the following production data for the past quarter: 2 Units Month Produced March April May 5500 4500 3900 W Save for Later If Sheridan uses the high-low method to project costs for the next quarter, what total cost equation will the company use? O Total cost = $0 + $80/unit x Quantity O Total cost = $77400+ $16/unit x Quantity O Total cost = $61800 + $20/unit x Quantity O Total cost = $15000+ $32/unit x Quantity #3 Total Cost $191000 с 175000 E 139800 S D $ 4 R G Search or type URL FL 67 5⁰° % 5 MacBook Pro T A 6 G Y & 7 H U Attempts: 0 of 1 used Submit An J Co K о 0