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Chapter 6 Assignment: Submit answers to the following quesTons based on your readings, lectures, and self-experience. Use correct grammar and spelling. QuesTon 1: Discuss a cost object and give an example of a cost objecTve. Create an example of a cost objecTve that is not contained in the text or the verbal lecture. Come up with your own cost objecTve (minimum 50 words) QuesTon 2: Wyoming Wholesale has gathered the following data on the number of shipments received and the costs of receiving reports for the Frst seven weeks of 2014. # of Shipments Received Weekly Cost of Receiving Reports 50 $175 44 162 40 154 35 142 53 185 58 200 60 202 a. a. Using the high-low method, develop the equaTon for predicTng weekly receiving reports costs based on the number of shipments received. (show work) b. b. What is the predicted amount of receiving report costs for a week in which 72 shipments are received? Hint, plug 72 for ‘X’, a±er Fnd formula in part (a) above. QuesTon 3: Discuss how the following statements are related to each other: Statement of Cost of Good Manufactured, Schedule of Cost of Goods Sold, and Income Statement. ²here is no need to use numbers or examples. Discuss the relaTonship in a general sense. (Minimum words 100)
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Queston 4: Name The 4 GAAP meThods for invenTory costng and discuss very brieFy. (Minimum words 100) Queston 5: WhaT is overhead? Discuss The major di±erence beTween absorpton costng and variable costng? (Minimum words 100)
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4. Overhead:
Definition: overheads are those costs that are required for carrying the business operations but are they
are not directly attributable to business activity
Differences between...

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