Carla Vista Corp. has collected the following data concerning its maintenance costs for the past 6 months. July August September October November December (a1) Units Produced 17,280 30,720 34,560 21,120 38,400 36,480 Your answer is incorrect. Total Cost $34,560 46,080 52,800 36,480 Variable cost per unit $ 71.520 59,520 Compute the variable cost per unit using the high-low method. (Round answer to 2 decimal places, eg. 2.25.)

Carla Vista Corp. has collected the following data concerning its maintenance costs for the past 6 months. July August September October November December (a1) Units Produced 17,280 30,720 34,560 21,120 38,400 36,480 Your answer is incorrect. Total Cost $34,560 46,080 52,800 36,480 Variable cost per unit $ 71.520 59,520 Compute the variable cost per unit using the high-low method. (Round answer to 2 decimal places, eg. 2.25.)

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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Tractor Company needs to prepare pro forma financial statements for the next fiscal year. To do so, the company must forecast its total overhead cost. The actual machine hours and total overhead cost are presented below for the past six months. Machine Hours 1,990 2,100 1,750 1,600 1,870 2,020 Using the high-low method, unit variable overhead cost is calculated to be: Month January February March April May June Multiple Choice O O O $2.08 $1.78 $1.98 $1.68 Total Overhead $ 6,320 $1.88 6,580 6,020 5,590 6,060 6,370
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Culver World provided the following data concerning its costs of operating and the number of riders of its Scream ride and the related linear regression for selected operation months: Riders Operating costs January $2.40 $1.84 $1.94 O $2.05 2900 $8640 February March April 2800 $8510 2300 2210 May 2500 $7490 $6984 $7910 Using the high-low method, what is the unit variable cost for the Scream ride? June 2700 $8580
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In the last reporting period, Harold's Hat Company recorded 100,000 units sold for the first time in the history of the company. The price per unit was $89.99 and variable costs per unit was $36.39. Compute the fixed costs if the operating income is $4,020,000. Do not use units in your final answer (i.e. $ or commas). Answer:
Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Boston Railroad is a measure of railroad operating activity, termed “gross-ton miles,” which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January $1,776,000 560,000 February 2,700,000 1,000,000 March 1,650,000 500,000 April 1,860,000 600,000 May 1,440,000 400,000 June 1,566,000 460,000 Determine the variable cost per gross-ton mile and the total fixed cost. Variable cost (If required, round to two decimal places.) $fill in the blank 1 per gross-ton mile Total fixed cost $fill in the blank 2
8) Paine Company wishes to determine the fixed portion of its electrical costs (a mixed cost). Management believes that the variable portion of the electrical costs is driven by machine-hours. Information for the previous three months follows: January February March Machine-hours Electrical cost 33,000 31,000 34,000 A) $283. B) $375. (C) $327. D) $408. $600 $585 $610 Using the high-low method, the fixed portion of the company's electrical costs would be estimated to be closest to:
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