2-12 Give the general formula for a mixed cost. Which term represents the variable cost? The fixed cost?

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Sixta KovacekLv2

1 Oct 2018

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In Managerial accounting, there are also three additional types of costs, these include fixed costs, mixed costs and variable costs. Please define each term and give an example of a product or service that used mixed costs. One example includes the old cell phone bill. Remember when your minutes were free after 9pm? If you received or made a call duing the day, it would cost you $.05 per call. Therefore you had your monthly fee (fixed costs) and your additional $.05 a minute for daytime calls as your variable cost. Provide an example of a product or service with mixed costs

2-4 Distinguish between (a) a variable cost, (b) a fixed cost, and (c) a mixed cost.

The following data have been extracted from the records of Puzzle, Inc.:

	February		August
Production level, in units		11,800		25,960
Variable costs	$	33,040	$	?
Fixed costs		?		32,500
Mixed costs		29,120		?
Total costs	$	94,660	$	161,212

Required:

a. Calculate the missing costs. (Do not round intermediate calculations.)

b. Calculate the cost formula for mixed cost using the high-low method. (Do not round intermediate calculations. Round "Variable cost" to 2 decimal places.)

cost formula _____ + _____ per unit

c. Calculate the total cost that would be incurred for the production of 16,949 units. (Do not round intermediate calculations.)

Total cost ____

d. Identify the two key cost behavior assumptions made in the calculation of your answer to part c.

cost behavior pattern is ____ relevant range ____

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2-12 Give the general formula for a mixed cost. Which term represents the variable cost? The fixed cost?

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