Question
In: Accounting
What does relevant range mean? Why are “fixed costs” considered “fixed” and how does the relevant...
- What does relevant range mean? Why are “fixed costs” considered “fixed” and how does the relevant range affect a cost’s “fixed-ness?”
2. When using the high-low method, why might we be concerned about our estimates for variable cost per unit and total fixed costs?
3. Define contribution margin. How would management use contribution margin when making decisions for the business?
4. Are variable costs and differential costs the same thing? Why or why not?
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Explain the concept of relevant range. How does relevant range impact costs? Which costs are impacted by the...
Explain the concept of relevant range. How does
relevant range impact costs? Which costs are impacted by
the relevant range? Provide an example of how relevant
range can impact a cost structure.
Within the relevant range, the difference between variable costs and fixed costs is: (2) a. variable...
Within the relevant range, the difference between variable costs
and fixed costs is:
(2) a. variable costs per unit fluctuate and fixed costs per
unit remain constant
. b. both total variable costs and total fixed costs are
constant.
c. both total variable costs and total fixed costs
fluctuate.
d. variable costs per unit are constant and fixed costs per unit
fluctuate.
Relevant Range and Fixed and Variable Costs Child Play Inc. manufactures electronic toys within a relevant...
Relevant Range and Fixed and Variable Costs
Child Play Inc. manufactures electronic toys within a relevant
range of 72,000 to 114,000 toys per year. Within this range, the
following partially completed manufacturing cost schedule has been
prepared:
Complete the cost schedule below. When computing the
cost per unit, round to two decimal places. Round all other values
to the nearest dollar.
Toys produced
72,000
91,200
114,000
Total costs:
Total variable costs
$24,480
d. $
j. $
Total fixed costs
27,360...
Relevant Range and Fixed and Variable Costs Child Play Inc. manufactures electronic toys within a relevant...
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. When computing the cost per unit, round to two
decimal places.
Toys produced
40,000
80,000
120,000
Total costs:
Total variable costs
$720,000
d. $
j. $
Total fixed costs
600,000
e.
k.
Total costs
$1,320,000
f. $
l. $...
In 200 words or more, Explain variable, fixed, and mixed costs and the relevant range. Original...
In 200 words or more, Explain variable, fixed, and mixed costs
and the relevant range. Original work please
Explain what the meaning of the Relevant range. Explain how the relevant range changes for variable...
Explain what the meaning of the Relevant range. Explain how the
relevant range changes for variable cost behavior
(curvilinear cost behavior) and how the relevant range changes for
fixed cost behavior (stepped cost behavior). (100 to 200 words)
Explain what the meaning of the Relevant range. Explain how the relevant range changes for variable...
Explain what the meaning of the Relevant range. Explain how the
relevant range changes for variable cost behavior( curvilinear cost
behavior) and how the relevant range changes for fixed cost
behavior(stepped cost behavior)
Why might variable costs be considered less risky than fixed costs? (Fixed costs don’t change in...
Why might variable costs be considered less risky than fixed
costs? (Fixed costs don’t change in relation to sales, so they
still have to be paid, even if there is no income.) What happens if
you don’t sell any cookies one month or sell only a hundred? The
riskiness of fixed costs demonstrates why it’s a good idea for
entrepreneurs to have a cash reserve in the bank equal to three
months of fixed costs.
Which costs are impacted by relevant range?
Which costs are impacted by relevant range?
Relevant Range and Fixed and Variable Costs Vogel Inc. manufactures memory chips for electronic toys within...
Relevant Range and Fixed and Variable Costs
Vogel Inc. manufactures memory chips for electronic toys within
a relevant range of 114,000 to 182,400 memory chips per year.
Within this range, the following partially completed manufacturing
cost schedule has been prepared:
Components produced
114,000
144,000
182,400
Total costs:
Total variable costs . . . . . . . .
.
$49,020
(d)
(j)
Total fixed costs . . . . . . . . . . .
.
54,720
(e)
(k)...
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