Product costs under variable costing are typically:   Question 1 options:   lower than under absorption costing   higher than under absorption costing   the same as with absorption costing   higher than absorption costing when inventory increases

Question #2 What is absorption costing and marginal costing in the context of overhead costs? Discuss the following in your answer: The difference between absorption costing and marginal costing. Two reasons for absorption costing.

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Sheffield Corp. provides financial consulting and has collected the following data for the next year’s budgeted activity for a lead consultant. Consultants’ wages $100000       Fringe benefits $32500       Related overhead $27500 Supply clerk’s wages $17500       Fringe benefits $3000       Related overhead $19000 Profit margin per hour $20 Profit margin on materials 18% Total estimated consulting hours 5000 Total estimated material costs $158000 The material loading charge is?

Contribution Margin, Cost-Volume-Profit Analysis and Break-Even Point (Overview) Fixed, Variable and Mixed Costs An appreciation of cost behavior is needed in order for management to understand and predict profitability as the costs of material, labor and other operating expenses and levels of production and sales change. It's important to review the cost behavior of fixed, variable and mixed costs before contribution margins, cost-volume-profit analysis, and break-even points. 1.   In the table below, Have-A-Seat Inc. has outlined many of the costs associated with producing office chairs. With respect to the production and sale of office chairs, classify each cost as fixed, mixed, or variable. a.  Pressure-molded plastic for chair frames   b.  Pension cost: $0.50 per employee hour on the job   c.  Insurance premiums for inventory: $2,100 per month plus $0.01 for each dollar of inventory over $2 million   d.  Property taxes: $120,000 per year for the factory building and…