Question

In: Accounting

The costs that remain at a given level regardless of the amount of the product produced...

The costs that remain at a given level regardless of the amount of the product produced and sold.

Cost per unit

Profit

Variable costs

Fixed costs

Expert Solution

The cost that remain at a given level regardless of the amount of the product produced and sold is called Fixed Cost.

Reason:These costs are independent of output produced and sold. These cost arise even at zero level of output. These are the cost of fixed factors.

Other Cost explanation:

Cost Per unit:The Amount of cost incurred for producing a single unit of the particular product is referred as Cost per unit

Variable Costs:A variable cost is a cost that vary with the level of output. These costs become zero at zero level of output. These are also called as Prime costs.

Profit:It is referred as amount you earned from selling the product at a price more than the Cost price of product. Profit can be calculated by deducting variable and fixed costs from Sale.

Sale xxx

Less:variable cost xxx

Contribution xxx

Less:Fixed cost xxx

Profit xxx

Conclusion:Fixed Costs.

Please upvote if u find the answer helpful.

ekkarill92 answered 1 year ago

Absorption Costing treats all manufacturing costs and selling costs as product costs, regardless of whether they...

Absorption Costing treats all manufacturing costs and selling costs as product costs, regardless of whether they are fixed or variable. T/F When units produced = units sold, Absorption costing net operating income < Variable costing net operating income. T/F When determining the units to which costs will be assigned in Equivalent Units, the beginning WIP units + units started into production = units completed and transferred out + ending WIP units. T/F When calculating Equivalent units, Conversion costs include Direct...

How do unit-level costs behave in relation to the product life cycle? Batch-level costs? Product-level costs?...

How do unit-level costs behave in relation to the product life cycle? Batch-level costs? Product-level costs? Facility-level costs?

Describe the product life cycle and discuss how unit level costs, batch level costs, product level...

Describe the product life cycle and discuss how unit level costs, batch level costs, product level costs and facility level costs behave in relation to the product life cycle.

The company incurs costs of $23.79 million regardless of the output level. It sells 6.94 million...

The company incurs costs of $23.79 million regardless of the output level. It sells 6.94 million units of its product at the price of $9.97, and its variable costs per unit are $2.2. The company has $50 million of debt with an annual interest rate of 5.39%. What is the degree of financial leverage at the current level of sales? Round to two decimals.

Classify each of the following costs as unit-level, batch-level, product-level, or facility-level. a. Product line manager...

Classify each of the following costs as unit-level, batch-level, product-level, or facility-level. a. Product line manager salary ▼ b CEO salary ▼ Batch-level Batch-level or Facility-level Batch-level or Unit-level Facility-level Facility-level or Product-level Facility-level or Unit-level Product-level Unit-level c. Machine set-up costs that are incurred whenever a new production order is started ▼ Batch-level Batch-level or Facility-level Batch-level or Unit-level Facility-level Facility-level or Product-level Facility-level or Unit-level Product-level Unit-level d. Direct materials ▼ Batch-level Batch-level or Facility-level Batch-level or Unit-level...

determine the total amount of manufacturing overhead,product costs & period costs

Caroline Company reports the following costs and expenses in May.Factory Utilities 11,500Depreciation on factory equipment 12,650Depreciation on delivery trucks 3,800Indirect factory labor 48,900indirect materials 80,800Direct materials used 137,600Factory manager's salary 8,000Direct labor 69,100Sales salaries 46,400Property taxes on factory building 2,500Repairs to office equipment 1,300factory repairs 2,000Advertising 18,000office supplies used 2,640 InstructionsFrom the information, determine the total amount of:(a) Manufacturing overhead.(b) Product costs.(c) Period costs.

In activity–based costing, costs are classified into unit level, batch level, product level and facility level....

In activity–based costing, costs are classified into unit level, batch level, product level and facility level. How these categories are typically handled in CVP analysis, where there are only two categories available: fixed or variable?

Discuss the following statement: “Regardless of the amount of finance already invested by an entrepreneur in...

Discuss the following statement: “Regardless of the amount of finance already invested by an entrepreneur in pursuit of a business idea, not all ideas are considered opportunities.” Do you agree? Why or why not?

Suppose the inverse demand for a product produced by a single firm is given by P...

Suppose the inverse demand for a product produced by a single firm is given by P = 200 − 5Q and this firm has a marginal cost of production of MC = 20 + 2Q. a. If the firm cannot price-discriminate, what is the profit-maximizing price and level of output for this monopolist? What are the levels of producer and consumer surplus in the market? What is the deadweight loss? b. If the monopolist can practice perfect price discrimination, what...

Suppose the inverse demand for a product produced by a single firm is given by: P...

Suppose the inverse demand for a product produced by a single firm is given by: P = 76 – 4(Q) and this firm has a marginal cost of production of: MC = 10 1. If the firm cannot price-discriminate , what is the profit-maximizing a)price b)and level of output? 2. If the firm cannot price-discriminate , what is : a)the consumer surplus , b)the producer surplus c)the dead-weight loss 3. If the firm can practice perfect price discrmination,...