a) Estimate the fixed cost and variable cost using the high-low method.

Q: Define a fixed against a variable cost and give an example of each?

A: A fixed cost is a cost that does not change with the level of output or activity in a business. It…

Q: Explain the difference between total variable costs and variable costs per unit.

A: Cost can be categorized as variable and fixed costs.

Q: 6) Define fixed, variable

A: Answer: Fixed cost A fixed cost is a value that doesn't modification over the short, although a…

Q: Give some examples of Fixed Costs?

A: Fixed costs: Fixed costs are those costs which remain unchanged even there is a change in the…

Q: The lower-of-cost-or-market (LCM) basis may be used with all of the following methods except The…

A: As per US gaap, Inventory is valued at lower-of-cost-or-market value.

Q: Define and explain the contribution margin.  Include the difference in fixed and variable costs in…

A: Contribution margin may be defined as the amount of profit generated when only the cost of goods…

Q: Assign costs to unitsusing the FIFO method.

A: FIFO Method:   It is a method of inventory costing where the inventory purchased first is the first…

Q: In applying the high-low method of cost estimation to mixed costs, how is the total fixed cost…

A: Mixed cost also called the semi variable cost . Mixed cost contains both fixed and variable cost .…

Q: Given the following, the only item that will generally be included in relevant cost analysis is:…

A: Introduction:   The phrase "relevant cost" in managerial accounting refers to avoidable costs that…

Q: What are the formulas for: 1. Contribution Cost 2. Break even cost

A: Cost refers to the expense that is incurred for making the goods or providing services by the…

Q: A total cost equation can be used to predict future costs for various activity levels. Write the…

A: Concept The total cost is the sum of variable cost and fixed cost incurred For example if variable…

Q: In the mixed cost function Y = A + BX, total variable costs is represented by: a. A + BX b. A c. Y…

A: In the mixed cost function Y = A + BX, Y = Total Cost A = Fixed Cost B = Variable Cost per unit X =…

Q: Give the general formula for a mixed cost

A: Cost:   It refers to the economic value incurred by an organization for manufacturing a product or…

Q: Answer with this question

A: Step 1: Introduction to the Total Asset turnover:Total asset turnover is given as the sales divided…

Q: What is the difference between a linear and a nonlinear cost function? Give an example of each type…

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: Question 1: Differentiate between standard cost and estimated cost.

A: Since you have asked multiple question, we will solve the first question for you. If you  want any…

Q: The controller of Sheridan Industries has collected the following monthly expense data for use in…

A: The high-low method is a cost analysis technique that calculates the variable and fixed components…

Q: In the cost equation TC = F + VX, “V” is best described as the:    Multiple Choice   intercept…

A: The objective of the question is to identify the correct description of 'V' in the cost equation TC…

Q: Please explain the calculation of Unit contribution

A: Unit Contribution margin is contribution margin earned per unit It is calculated in 2 ways  Unit…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.