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Canyon Dental Services is a specialized dental practice whose only service is filling cavities. Canyon has recorded the following for the past nine months: Month January February March April May June July August September Number of Cavities. Filled 300 375 625 400 650 600 350 675 550 Total Cost $ 5,100 5,300 6,350 5,200 6,300 6,300 5,000 6,300 6,000 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Canyon's total cost for filling 700 cavities.

Canyon Dental Services is a specialized dental practice whose only service is filling cavities. Canyon has recorded the following for the past nine months: Month January February March April May June July August September Number of Cavities. Filled 300 375 625 400 650 600 350 675 550 Total Cost $ 5,100 5,300 6,350 5,200 6,300 6,300 5,000 6,300 6,000 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Canyon's total cost for filling 700 cavities.

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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Canyon Dental Services is a specialized dental practice whose only service is filling cavities. Canyon has recorded the following for the past nine months: Month January February March April May June July August September Number of Cavities. Filled 300 375 625 400 650 600 350 675 550 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Canyon's total cost for filling 700 cavities. Required 1 Required 2 Total Cost $ 5,100 5,300 6,350 5,200 6,300 6,300 5,000 Complete this question by entering your answers in the tabs below. 6,300 6,000 Fixed cost Variable cost per cavity filled Use the high-low method to estimate total fixed cost and variable cost per cavity filled. Note: Round your Variable cost per unit to 2 decimal places. $ $ 3,225 5.00 < Required 1 Required 2 >
Transcribed Image Text:Canyon Dental Services is a specialized dental practice whose only service is filling cavities. Canyon has recorded the following for the past nine months: Month January February March April May June July August September Number of Cavities. Filled 300 375 625 400 650 600 350 675 550 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Canyon's total cost for filling 700 cavities. Required 1 Required 2 Total Cost $ 5,100 5,300 6,350 5,200 6,300 6,300 5,000 Complete this question by entering your answers in the tabs below. 6,300 6,000 Fixed cost Variable cost per cavity filled Use the high-low method to estimate total fixed cost and variable cost per cavity filled. Note: Round your Variable cost per unit to 2 decimal places. $ $ 3,225 5.00 < Required 1 Required 2 >
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