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 575 475 675 550 300 500 325 400 425 Total Cost $ 6,400 5,350 6,050 6,250 5,150 6,050 5,300 5,050 5,900 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 350 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 575 475 675 550 300 500 325 400 425 Total Cost $ 6,400 5,350 6,050 6,250 5,150 6,050 5,300 5,050 5,900 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 350 cavities.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am. 113.
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
575
475
675
550
300
500
325
400
425
Total Cost
$ 6,400
5,350
6,050
6,250
5,150
6,050
5,300
5,050
5,900
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 350 cavities.
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