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
icon
Related questions
icon
Concept explainers
Question
Based on the above, the total of fixed
costs is
O $24,150
$20,900
$21,150
None of the above
Transcribed Image Text: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
Transcribed Image Text: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
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Instruments of Foreign Exchange Market
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education