44) Same information as before - You have collected the following information about activity and costs - Activity - Machine Cost - Utilities Month Hours $18,500 $19,750 $23,740 $25,500 $18,350 $17,290 $17,150 $25,200 $24,100 March 2,400 2,600 2,900 3,100 April May June July August September 1,950 October 2,100 1,900 3,150 November 3,000 Using the High-Low method and your answers from the two previous questions, what is the estimated cost for December if the machines run for 2,550 hours ?

44) Same information as before - You have collected the following information about activity and costs - Activity - Machine Cost - Utilities Month Hours $18,500 $19,750 $23,740 $25,500 $18,350 $17,290 $17,150 $25,200 $24,100 March 2,400 2,600 2,900 3,100 April May June July August September 1,950 October 2,100 1,900 3,150 November 3,000 Using the High-Low method and your answers from the two previous questions, what is the estimated cost for December if the machines run for 2,550 hours ?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Rex Industries has identified three different activities as cost drivers: machine setups, machine hours, and inspections. The overhead and estimated usage are: Compute the overhead rate for each activity. Round your answers to two decimal places. Overhead Overhead Annual Rate per Activity per Activity Usage Activity Machine Setups $157,850 4,100 $ Machine Hours 324,622 14,114 2$ Inspections 119,000 3,400
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What is the activity rate based on machine hours? Activity rate based on the number of machine setups? Activity rate based on the number of purchase orders?
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Required information [The following information applies to the questions displayed below.] Kubin Company's relevant range of production is 18,000 to 22,000 units. When it produces and sells 20,000 units, its average costs per unit are as follows: Average Cost per Unit $ 7.00 $ 4.00 $ 1.50 $ 5.00 $ 3.50 $ 2.50 $ 1.00 $ 0.50 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense
QUESTION 1 Identify each of the costs listed below. The plant manager's salary is $80,000. A salesperson earns a commission of 10% of revenue. Paid $20,000 to advertise a new product. A. Variable Cost B. Fixed Cost
You have collected the following information about activity and costs - Activity - Machine Cost - Utilities Month Hours 2,400 2,600 $18,500 $19,750 March April May 2,900 $23,740 $25,500 $18,350 $17,290 $17,150 $25,200 $24,100 June 3,100 July August September 1,950 3,150 2,100 1,900 October November 3,000 Using the High-Low method, calculate the variable cost per machine hour to the nearest penny.