Homework Answers
average variable cost should be
=(total cost-fixed cost)/number of computers
=(5000000-2000000)/10000
=300
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At the end of the year, a firm produced 10 000 laptop computers. Its total costs...
Exercise 10-5 Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with...
Exercise 10-5 Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations we as follows. The company intends to asily these costs and expenses into the following categories: (a) direct materias (1) direct labor. (c) manufacturing overhead, and (d) period costs For each item, indicate the cost category to which it belongs. Them Category 1. Property taxes on the factory building Production superintendents' salaries 3. Memory boards and chips used in assembling computers, Direct...
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations...
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor, (c) manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category Property taxes on the factory building. rini Production superintendents’ salaries. mi Memory boards and chips used in assembling computers. Depreciation on the...
9. If production volume increases from 8000 to 10 000 units, a. total costs will increase...
9. If production volume increases from 8000 to 10 000 units, a. total costs will increase by 20 per cent. b. total costs will increase by 25 per cent. c. total variable costs will increase by 25 per cent. d. mixed and variable costs will increase by 25 per cent. 10. The direct material cost is £10 000 when 2000 units are produced. What is the direct material cost for 2500 units produced? a. £10 000 b. £8000 c. £15...
P6.53B (LO 1, 2, 3) Seaton Ltd. manufactures and sells laptop computers. For its 2020 business...
P6.53B (LO 1, 2, 3) Seaton Ltd. manufactures and sells laptop computers. For its 2020 business plan, Seaton estimated the following: Selling price Variable cost per laptop$300 Annual fixed costs$150,000 Net (after-tax) income $360,000 Tax rate $600 25% The March financial statements reported that sales were not meeting expectations. For the first three months of the year, only 400 units had been sold at the established price. With variable costs staying as planned, it was clear that the 2020 after-tax...
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations...
Gala Company is a manufacturer of laptop computers. Various
costs and expenses associated with its operations are as
follows.
The company intends to classify these costs and expenses into the
following categories: (a) direct materials, (b) direct labor, (c)
manufacturing overhead, and (d) period costs.
For each item, indicate the cost category to which it belongs.
Item
Category
1.
Property taxes on the factory building.
Period Costs Direct Materials Direct Labor Manufacturing Overhead
Direct Materials and Manufacturing Overhead
2.
Production...
Suppose that a business had implicit costs of $500 000 and had explicit costs of $5...
Suppose that a business had implicit costs of $500 000 and had explicit costs of $5 million in a specific year. If in that year the firm sold 100 000 units of its output at $50 per unit, its accounting: O profits were $100 000 and economic profits were zero losses were $500 000 and its economic losses were zero O profits were $500 000 and its economic profits were $1 million O profits were zero and its economic profits...
help please Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with...
help please
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows The company intends to classify these costs and expenses into the following categories: (a) direct materials. (b) direct labore manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category 1. Property taxes on the factory building. Production superintendents' salaries. Memory boards and chips used in assembling computers. Depreciation on the...
Silver Company is a food manufacturer and produced 15,000 units of its product this year. Total...
Silver Company is a food manufacturer and produced 15,000 units of its product this year. Total fixed costs were $45,000 ($3.00/unit) and total variable costs were $60,000 ($4.00/unit). If Silver were to produce 20,000 units, it would need to rent an additional building to have room for the additional capacity. The rent on the additional building would be $10,000 per year. At a production level of 20,000 units, what would be the total costs (fixed and variable) incurred by Silver...
1. The mean lifetime of laptop computers produced by one company is 4.6 years with a...
1. The mean lifetime of laptop computers produced by one company is 4.6 years with a standard deviation of 1.1 years. Consider random samples of 55 laptop computers repeatedly taken for 2 weeks. What is the standard deviation of the sampling distribution of the sample means? (If rounding is needed, round to four decimal places). 2 . Suppose that for 18-to-25-year-old men, the mean number of football games watched each football season is 19.0 games with a standard deviation of...
A firm in a perfectly competitive industry knows the following about its costs and revenue. The...
A firm in a perfectly competitive industry knows the following about its costs and revenue. The firm would like to maximize profit and has hired a consultant for advice. Price of Output Q? Total Revenue 8,200 Total Cost TC? Total Fixed Cost 3,000 Average Total Cost Average Variable Cost MC Total Variable Cost TVC? Part 1. Price Part 2: Quantity Part 3. Total Cost_ Part 4. Total Variable Cost Part 5. What is the value of the profit or loss...
Exercise 10-5 Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations we as follows. The company intends to asily these costs and expenses into the following categories: (a) direct materias (1) direct labor. (c) manufacturing overhead, and (d) period costs For each item, indicate the cost category to which it belongs. Them Category 1. Property taxes on the factory building Production superintendents' salaries 3. Memory boards and chips used in assembling computers, Direct...
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor, (c) manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category Property taxes on the factory building. rini Production superintendents’ salaries. mi Memory boards and chips used in assembling computers. Depreciation on the...
9. If production volume increases from 8000 to 10 000 units, a. total costs will increase by 20 per cent. b. total costs will increase by 25 per cent. c. total variable costs will increase by 25 per cent. d. mixed and variable costs will increase by 25 per cent. 10. The direct material cost is £10 000 when 2000 units are produced. What is the direct material cost for 2500 units produced? a. £10 000 b. £8000 c. £15...
P6.53B (LO 1, 2, 3) Seaton Ltd. manufactures and sells laptop computers. For its 2020 business plan, Seaton estimated the following: Selling price Variable cost per laptop$300 Annual fixed costs$150,000 Net (after-tax) income $360,000 Tax rate $600 25% The March financial statements reported that sales were not meeting expectations. For the first three months of the year, only 400 units had been sold at the established price. With variable costs staying as planned, it was clear that the 2020 after-tax...
Gala Company is a manufacturer of laptop computers. Various
costs and expenses associated with its operations are as
follows.
The company intends to classify these costs and expenses into the
following categories: (a) direct materials, (b) direct labor, (c)
manufacturing overhead, and (d) period costs.
For each item, indicate the cost category to which it belongs.
Item
Category
1.
Property taxes on the factory building.
Period Costs Direct Materials Direct Labor Manufacturing Overhead
Direct Materials and Manufacturing Overhead
2.
Production...
Suppose that a business had implicit costs of $500 000 and had explicit costs of $5 million in a specific year. If in that year the firm sold 100 000 units of its output at $50 per unit, its accounting: O profits were $100 000 and economic profits were zero losses were $500 000 and its economic losses were zero O profits were $500 000 and its economic profits were $1 million O profits were zero and its economic profits...
help please
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows The company intends to classify these costs and expenses into the following categories: (a) direct materials. (b) direct labore manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category 1. Property taxes on the factory building. Production superintendents' salaries. Memory boards and chips used in assembling computers. Depreciation on the...
A firm in a perfectly competitive industry knows the following about its costs and revenue. The firm would like to maximize profit and has hired a consultant for advice. Price of Output Q? Total Revenue 8,200 Total Cost TC? Total Fixed Cost 3,000 Average Total Cost Average Variable Cost MC Total Variable Cost TVC? Part 1. Price Part 2: Quantity Part 3. Total Cost_ Part 4. Total Variable Cost Part 5. What is the value of the profit or loss...
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