Taran Company incurred the following costs for the months of January and February: Type of Cost...

Taran Company incurred the following costs for the months of January and February: Type of Cost January February Insurance $ 5,000 $ 5,000 Utilities 4,000 5,000 Depreciation 3,500 3,500 Materials 10,000 20,000 If output was 5,000 units in January and 10,000 units in February, we can assume that: a.utilities and materials are variable costs. b.utilities, insurance, and depreciation are fixed costs. c.materials are the only variable cost. d.insurance and depreciation are mixed costs.

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Taran Company incurred the following costs for the months of January and February. Type of Cost...

Taran Company incurred the following costs for the months of January and February. Type of Cost January February Insurance $ 5,000 $ 5,000 Utilities 4,000 5,000 Depreciation 3,500 3,500 Materials 10,000 20,000 From the information above we can assume that a. output decreased from January to February. b. insurance is a mixed cost. c. output stayed the same from January to February. d. insurance and depreciation are fixed costs

ONE: Chrystal Company incurred the following costs for the months of January and February: Type of...

ONE: Chrystal Company incurred the following costs for the months of January and February: Type of Cost January / February Insurance $7,000 $7,000 Utilities 2,600 3,800 Depreciation 2,000 2,000 Materials 5,000 8,000 Assume that output was 1,000 units in January and 3,000 units in February, utility cost is a mixed cost, and the fixed cost of utilities was $2,000. What was the variable rate per unit of output for utilities cost? a.$0.40 b.$0.60 c.$0.20 d.$0.30 TWO: If production volume decreases...

ABC company incurred the following maintainance costs during the past 6 months Table 1 Months Machine...

ABC company incurred the following maintainance costs during the past 6 months Table 1 Months Machine hours Cost $ 1 20 4560 2 40 9780 3 50 10920 4 60 11280 5 30 6320 6 90 18920 7 25 5140 8 43 10500 9 70 12400 REQUIRED Part 1 A. Use the data on Table 1 , estimate the variable and fixed cost of the company using the high and low method B. Develop a cost function for the company....

During the month of January, the following costs were incurred:

During the month of January, the following costs were incurred: 2010 Jan 8 Purchased Materials for cash, $150,000 Jan 10 Requisition for Direct Materials that were put into production, $100,000 Jan 20 Requisitioned for Indirect Materials that were put into production, $4,000. Jan 23 Direct Labor cost incurred during the period, $60,000 when the labor rate per hour was $5. Jan 25 Indirect labor cost incurred during the month of January is $6,000. Jan 28 Paid factory supervisor’s salaries...

URGENT____ The Dennison Company has planned the following sales for the next three months: January February...

URGENT____ The Dennison Company has planned the following sales for the next three months: January February March Budgeted Sales $40,000 $50,000 $70,000 Sales are made 20% for cash and 80% on account. From experience, the company has learned that a month's sales on account are collected according to the following pattern: Month of sale 60% First month following sale 30% Second month following sale 8% Uncollectible 2% The company requires a minimum cash balance of $5,000 to start a month....

The cafeteria at X Company incurred the following costs in September: Cost Item Cost Supervisor salary...

The cafeteria at X Company incurred the following costs in September: Cost Item Cost Supervisor salary $5,920 Hourly workers wages 32,088 Food 11,074 Equipment 6,810 Supplies 3,118 Total $59,010 The hourly workers wages, food costs, and supplies costs were variable; the supervisor salary and equipment costs were fixed. The cafeteria served 13,000 meals during September. In October, the cafeteria is expected to serve 12,350 meals. Using account analysis with this data, estimate the total cafeteria cost in October [round variable...

The following costs were incurred in February by Container Corp., which produces customized steel storage bins:...

The following costs were incurred in February by Container Corp., which produces customized steel storage bins: Direct material purchased on account $136,800 Direct material used for jobs: Job #217 $80,640 Job #218 12,960 Other jobs 96,480 190,080 Direct labor costs for month: Job #217 $18,720 Job #218 25,200 Other jobs 35,280 79,200 Actual overhead costs for February 396,000 The balance in Work in Process Inventory on February 1 was $30,240, which consisted of $20,160 for Job #217 and $10,080 for...

Which of the following is the cost of quality classification for costs incurred to improve process...

Which of the following is the cost of quality classification for costs incurred to improve process reliability or reduce process variation? a. rework and wastage b. external failure costs c. internal failure costs d. appraisal cost e. prevention cost

The Roger’s Company incurred the following costs in the acquisition of a plant asset:What is the...

The Roger’s Company incurred the following costs in the acquisition of a plant asset:What is the cost of the plant asset? Can explain Invoice price $2,675 Insurance for shipping 75 Freight-in 400 Installation 750 Cost of trial runs 150

In February, Huron Ltd. incurred costs to obtain a contract with a customer. The contract is for two years.

In February, Huron Ltd. incurred costs to obtain a contract with a customer. The contract is for two years.The following costs were incurred:Travel costs to meet with the customer ...................................... $10,000Legal costs to write up the agreement ....................................... $ 5,000Cost of meals ................................................................................. $ 7,000Marketing materials used to promote the product ................... $ 2,500Required:Prepare the journal entry for these costs.

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