Child Play Inc. manufactures electronic toys within a relevant range of 100,800 to 158,400 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 100,800 123,200 158,400 Total costs: Total variable costs Total fixed costs Total costs Cost per unit: Variable cost per unit Fixed cost per unit Total cost per unit a. $ b. C. $ $40,320 44,352 $84,672 Check My Work 2 more Check My Work uses remaining. d. $ e. f. $ 9. $ h. i. $ j. $ k. 1. $ m. $ n. 0. $ Previous Next >
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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