Review this section to be sure you understand variable, fixed, and mixed costs.
Cost Behavior Patterns
Review Problem 5.1
Sierra Company is trying to identify the behavior of the three costs shown in the following table. The following cost information is provided for six months. Calculate the cost per unit, and then identify how each cost behaves (fixed, variable, or mixed). Explain your answers.
Cost 1 | Cost 2 | Cost 3 | |||||
---|---|---|---|---|---|---|---|
Month | Units Produced | Total Costs | Cost per Unit | Total Costs | Cost per Unit | Total Costs | Cost per Unit |
1 | 50 | $100 | $2.00 | $100 | $2.00 | $100 | $2.00 |
2 | 100 | 200 | 2.00 | 100 | 1.00 | 150 | 1.50 |
3 | 150 | 300 | _____ | 100 | _____ | 200 | _____ |
4 | 200 | 400 | _____ | 100 | _____ | 250 | _____ |
5 | 250 | 500 | _____ | 100 | _____ | 300 | _____ |
6 | 300 | 600 | _____ | 100 | _____ | 350 | _____ |
Solution to Review Problem 5.1
As shown in the following table, cost 1 is a variable cost because as the number of units produced changes, total costs change (in proportion to changes in activity) and per unit cost remains the same. Cost 2 is a fixed cost because as the number of units produced changes, total costs remain the same and per unit costs change. Cost 3 is a mixed cost because as the number of units produced changes, total cost changes (but not in proportion to changes in activity) and per unit cost changes.
Cost 1 | Cost 2 | Cost 3 | |||||
---|---|---|---|---|---|---|---|
Month | Units Produced | Total Costs | Cost per Unit | Total Costs | Cost per Unit* | Total Costs | Cost per Unit* |
1 | 50 | $100 | $2.00 | $100 | $2.00 | $100 | $2.00 |
2 | 100 | 200 | 2.00 | 100 | 1.00 | 150 | 1.50 |
3 | 150 | 300 | 2.00 | 100 | 0.67 | 200 | 1.33 |
4 | 200 | 400 | 2.00 | 100 | 0.50 | 250 | 1.25 |
5 | 250 | 500 | 2.00 | 100 | 0.40 | 300 | 1.20 |
6 | 300 | 600 | 2.00 | 100 | 0.33 | 350 | 1.17 |
*Rounded. |