Toys produced... 40,000 80,000 120,000 Total costs: $ 720,000 600,000 $1,320,000 Total varlable costs . (d) Total fixed costs (e) (k) Total costs.... (f) Cost per unit: Varlable cost per unit . Flxed cost per unit.... Total cost per unit . (a) (m) (b) (h) (c) (0

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Relevant range and fixed and variable costs
Child Play Inc. manufactures electronic toys within a relevant range of 20,000 to 150,000 toys per year. Within this range, the following partially completed manufacturing cost schedule has been prepared:

 

 

Complete the cost schedule, identifying each cost by the appropriate letter (a) through (o)

Toys produced...
40,000
80,000
120,000
Total costs:
$ 720,000
600,000
$1,320,000
Total varlable costs .
(d)
Total fixed costs
(e)
(k)
Total costs....
(f)
Cost per unit:
Varlable cost per unit .
Flxed cost per unit....
Total cost per unit .
(a)
(m)
(b)
(h)
(c)
(0
Transcribed Image Text:Toys produced... 40,000 80,000 120,000 Total costs: $ 720,000 600,000 $1,320,000 Total varlable costs . (d) Total fixed costs (e) (k) Total costs.... (f) Cost per unit: Varlable cost per unit . Flxed cost per unit.... Total cost per unit . (a) (m) (b) (h) (c) (0
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Cost classification
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