Based on the above, the total of fixedcosts isO $24,150$20,900$21,150None of the above X Company manufactures a singleproduct. Monthly production costsincurred in the manufacturing processare shown below for the production of500 units and 1,000 units. Assume that$250 of the factory maintenance costwas fixed cost.Cost500 units1,000 unitsDepreciation: plant equipment5,0005.000Direct labor13,00026,000Direct materi al25,00050.000Factory maintenance3,2506.250Indirect labor7,50015,000Plant manager salariesProperty taxes on plant12,00012,0003.9003.900

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Based on the above, the total of fixed costs is O $24,150 O $20,900 O $21,150 None of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Instruments of Foreign Exchange Market

Foreign exchange is a worldwide market in which one nation’s currency is converted into another nation’s currency. In further terms, exchanging of nations currency with foreign currencies. Foreign exchange happens at a specified rate which is termed the foreign exchange rate. The exchange rates are not constant continuously changing as they are derived by market forces of supply and demand. Widely used foreign currencies are the United States- dollar, Euro, Japanese Yen, British pound, and Australian dollar. US- dollar is the most denominated foreign currency. The Euro to US dollar is a widely used currency pair in the forex market as these two currencies represent the world’s enormous economy. Forex trade is simple as exchanging currencies at the bank. The main players of forex markets are the central banks, financial institutions, intermediaries, investments banks, and other banks. Central Bank is the supreme player who decides the currency value of their own nation on the forex market. Mostly foreign exchange-traded at FX market (forex market) when tourists’ visits a foreign country, import, and export happens between two countries.

Question

Based on the above, the total of fixed
costs is
O $24,150
$20,900
$21,150
None of the above

X Company manufactures a single
product. Monthly production costs
incurred in the manufacturing process
are shown below for the production of
500 units and 1,000 units. Assume that
$250 of the factory maintenance cost
was fixed cost.
Cost
500 units
1,000 units
Depreciation: plant equipment
5,000
5.000
Direct labor
13,000
26,000
Direct materi al
25,000
50.000
Factory maintenance
3,250
6.250
Indirect labor
7,500
15,000
Plant manager salaries
Property taxes on plant
12,000
12,000
3.900
3.900

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