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Apex Industries accumulates the following data concerning a mixed cost, using units produced as the activity level. Units Produced Total Cost January 2,000 $3,000 February 3,500 4,900 March 4,300 6,100 April 5,000 6,300 May 3,000 4,200 Using the high-low method, the variable cost per unit is: A. $1.65, while total fixed costs are $1,950. B. $0.95, while total fixed costs are $1,100. C. $1.10, while total fixed costs are $800. D. $1.20, while total fixed costs are $600.

Apex Industries accumulates the following data concerning a mixed cost, using units produced as the activity level. Units Produced Total Cost January 2,000 $3,000 February 3,500 4,900 March 4,300 6,100 April 5,000 6,300 May 3,000 4,200 Using the high-low method, the variable cost per unit is: A. $1.65, while total fixed costs are $1,950. B. $0.95, while total fixed costs are $1,100. C. $1.10, while total fixed costs are $800. D. $1.20, while total fixed costs are $600.

FINANCIAL ACCOUNTING
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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Using the produced as the activity level general accounting

Apex Industries accumulates the following data concerning a mixed cost, using units produced as the activity level. Units Produced Total Cost January 2,000 $3,000 February 3,500 4,900 March 4,300 6,100 April 5,000 6,300 May 3,000 4,200 Using the high-low method, the variable cost per unit is: A. $1.65, while total fixed costs are $1,950. B. $0.95, while total fixed costs are $1,100. C. $1.10, while total fixed costs are $800. D. $1.20, while total fixed costs are $600.
Transcribed Image Text:Apex Industries accumulates the following data concerning a mixed cost, using units produced as the activity level. Units Produced Total Cost January 2,000 $3,000 February 3,500 4,900 March 4,300 6,100 April 5,000 6,300 May 3,000 4,200 Using the high-low method, the variable cost per unit is: A. $1.65, while total fixed costs are $1,950. B. $0.95, while total fixed costs are $1,100. C. $1.10, while total fixed costs are $800. D. $1.20, while total fixed costs are $600.
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