Compute the monthly and annual fixed portion of the following semi-variable expense using the high-low method: Month 12345 Rooms Volume 175 125 128 200 150 Carry the unit variable rate to four decimals. Round the final answers to whole dollars. Labor Cost $100 80 79 120 90

Compute the monthly and annual fixed portion of the following semi-variable expense using the high-low method: Month 12345 Rooms Volume 175 125 128 200 150 Carry the unit variable rate to four decimals. Round the final answers to whole dollars. Labor Cost $100 80 79 120 90

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: What is contribution margin if average variable cost per unit is $6.40 and the average variable rate…

A: MARGINAL COSTING INCOME STATEMENT Marginal Costing Income Statement is One of the Important Cost…

Q: break-even point

A: Crumbley Inc produce and sale two products. Break even point of the business is as below.

Q: DoKnow Co. like to estimate the variable and fixed cost components of its maintenance cost and has…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Illustration 2: Calculate the earnings under the Merrick differential system and comment on the…

A: In this problem we will calculate the earnings under the Merrick differential system in bellow…

Q: 7. If the company will use 230 hours labor hours in July, what would be the total predicted cost of…

A: The solution has been provided for the questions which have been asked by the student which are the…

Q: Q1 Irfan Corporation contribution margin ratio is 22% and its fixed monthly expenses are Rs. 54,000.…

A: Net Operating Income = Contribution margin - Fixed Cost Fixed Cost is given directly in the…

Q: Coraline Co. has the following cost and activity data. Month Units Total Cost September 80,000…

A: The High-low method of determining cost variance considers the highest and lowest cost being…

Q: Q.2. From the following particulars ascertain thế lábour cost per day of 8 hours: 1. Basic.pay…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: Compute the missing amounts in the contribution Income statement shown below: (Round "Per Unit"…

A: MARGINAL COSTING INCOME STATEMENTMarginal Costing Income Statement is One of the Important Cost…

Q: Calculate the missing values. Express dollar values rounded to two decimal places and break-even…

A: Break even point :— It is the point of production where total cost is equal to total revenue. At…

Q: The Oriole Barber Shop employs four barbers. One barber, who also serves as the manager, is paid a…

A: Break Even Point (BEP) :— It is the point of production where total cost is equal to total revenue.…

Q: ake’s Roof Repair has provided the following data concerning its costs

A: Activity Variance Statement

Q: ***Use the following data to answer the next two (2) problems*** MONTH ACTIVITY COST January…

Q: Sally Company has the following sales data and total monthly cost data. Month Units Sold…

A: Solution: Variable cost per unit using high low method = (Cost at high level - Cost at low level) /…

Q: 8.Given the following cost and activity observations for Bounty Company's utilities, use the…

A: Fixed costs: These are costs which are incurred irrespective of the production or sale activities.…

Q: Occupancy- Electrical Days 3,608 186 Costs High activity level (August) .. Low activity level…

A: Change in cost at different level of activity is only because of the variable cost.

Q: Sheridan Corp. has collected the following data concerning its maintenan July August September…

A: Variable costs fluctuate with manufacturing or marketing levels and are incurred as a direct…

Q: Marissa Corporation produces and sells a single product. Data concerning that product appear below:…

A: In order to determine the units to be sold to attain that target profit, the fixed cost and the…

Q: Month Machine Hours OH costs February…

A: The total overhead cost may include variable component and fixed components. The variable cost…

Q: The number of blood tests performed and the related costs over the last nine months in Brentline…

A: The high-level method is used to separate fixed and variable costs from the mixed costs of…

Q: In recent years, Pina Colada Company has purchased three machines. Because of frequent employee…

A: Depreciable cost = (Cost - Salvage value)/Total machine hours

Q: Pathfinder Incorporated produces and sells a single product. Data concerning that product appear…

A: Lets understand the basics.Break even point is a point at which no profit no loss condition arise.…

Q: Selling price per unit Variable expenses per unit Fixed expense per month $ 185.00 $ 94.00 $437,240

A: Formula for calculation: Unit sales to attain a target profit = ( Fixed cost + target profit ) /…

Q: 40. Jupiter Inc. reports the following information for August: Sale revenue.........…

A: Given, Sales revenue = $800,000 Variable costs = $200,000

Q: Vin Diesel owns the Fredonia Barber Shop. He employs 4 barbers and pays each a base salary-of $1,250…

A: Variable cost is the cost that changes with change in the activity of cost driver used. The variable…

Q: prepare a contribution income statement with the following: Selling Price Per Unit $45 Variable…

A: A contribution margin income statement refers to an income statement wherein all factor costs are…

Q: The manufacturing costs of Mocha Industries for 3 months of the year are as follows: Total Cost…

A: The high-low method is used to differentiate the mixed cost. The mixed cost is the combination of…

Q: Complete each of the following contribution format income statements by supplying the missing…

A: Sales =contribution margin+ variable expenses=236,284+150,052=386,336 Fixed expenses=contribution…

Q: Milden Company is a merchandiser that plans to sell 31,000 units during the next quarter at a…

A: Income statement:— It is one of the financial statements that shows profitability, total revenue…

Q: Pablo Company wishes to determine the fixed portion of its maintenance expenses (a semi-variable…

A: Semi-Variable cost is the cost in which includes both fixed and variable costs included in it. The…

Q: The following information is available for a company's maintenance cost over the last seven months.…

A: Step…

Q: A company has provided the following details for a month: Estimated Sales Units 16,500 Variable…

A: Variable costs are costs that varies with the change in the level of output whereas fixed costs are…

Q: Calculate Moving-Average unit cost for June 1, 12, 15, 23 & 27 June 1 24 June 12 $4 June 15 $. June…

A: The cost of goods available for sale equals the beginning value of inventory plus the cost of goods…

Q: Given the following cost and activity observations for Bounty Company's utilities, use the high-low…

A: Variable costs are the types of costs that keep changes in total due to change in the level of the…

Q: ake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month Cost…

A: Variances are the differences between the actual values and budgeted values. If the budgeted values…

Q: Determine the missing amounts. (Round percentages to O decimal places, e.g. 52%.) Unit Selling Price…

A: Contribution is the amount of money earned by an entity after deducting the variable costs from the…

Q: Use the information in the following table to compute each department's contribution to overhead…

A: Overhead: Overhead refers to the business expenses which are not directly related to the production…

Q: Menlo Company distributes a single product. The company's sales and expenses for last month follow:…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Dietrick Corporation produces and sells two products. Data concerning those products for the most…

A: The break-even point indicates that total units are to be sold by the business entity to recover the…

Q: Selling price Direct labor costs Other variable costs D $181.00 $283.20 28.60 E 90 83.60 78 F…

A: Direct labor expenses are a substantial component of overall production costs since they include…

Q: ces Menlo Company distributes a single product. The company's sales and expenses for last month…

A: Contribution margin is defined as the portion of revenue left with an entity after it has disbursed…

Q: Splish Brothers Inc. began operations on July 1. It uses a perpetual inventory system. During July,…

A: Weighted Average Method is one of the methods of inventory valuation in which it is assumed that…

Q: Determine the break-even point in terms of number of units produced per month using the following…

A: Calculation of Variable Cost per unit: Labor Cost = 115 Cost of Material = 76…

Q: lars

A: Working capital is the difference berween current assets and current…

Question

Problem 5
Compute the monthly and annual fixed portion of the following semi-variable expense using the high-low method:
Month
12345
Rooms Volume
175
125
128
200
150
Carry the unit variable rate to four decimals. Round the final answers to whole dollars.
Labor Cost
$100
80
79
120
90

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: High low method:

VIEW

Step 2: Fixed costs

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Give me answer within an hour please I will give you upvotes its very urgent ...thanku....
Data concerning Bon Corporation's single product appear below: Selling price per unit $ 180.00 Variable expense per unit $ 68.40 Fixed expense per month $ 130,200 The break-even in monthly dollar sales is closest to:
Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's variable utilities cost per machine hour. Round to the nearest cent. Machine Hours March April May June Oa. $0.15 Ob. $1.02 Oc. $0.98 Od. $1.75 Cost $3,007 2,696 2,803 3,778 14,577 10,259 11,668 17,667
provide the variable cost per unit
Compute for the total cost per month using costing labor cost by the given data Compute for the percentage weight of the monetary benefit, non monetary benefit, and deferred monetary benefit Compute for the percentage of cost relevant to the sales of total labor cost, given that there are 40 employees in the company and the revenue of the company is 2,500,000 monthly.
Ma4. Please give only typed answer
Assume that a company provided the following cost formulas for three of its expenses (where q refers to the number of hours worked): Rent (fixed) $ 3,000 Supplies (variable) $ 4.00q Utilities (mixed) $150 + $0.75q The company’s planned level of activity was 2,000 hours and its actual level of activity was 1,900 hours. If these are the company’s only three expenses and the company uses revenue formula of $8.40q for budgeting purposes, what net operating income would appear in the company’s flexible budget?
17. The following information is available for electricity costs for the last six months of the year: Month Volume Costs July 2,800 4.400 August 5,600 10,800 September 6,400 11,400 October 3.500 7,800 November 2,400 4,800 December 4,200 8,100 Using the high-low method, what is the fixed costs?
Q.2 From the following particulars ascertain the labour cost per day of 8 hours: 1.Basic pay $200..p.m.... 2. Leave pay 5%. 3.Employers contribution to PF 8% of first and second 4.Employer's contribution to ESI 2 1/2% of first and second: 5. Pro-rata amenities 17.95 per head p.m. 6. Working hours in a month 200 hours. Solution
Computing Average Unit Costs The total monthly operating costs of Chili To Go are:$12,000 + $0.50X where X = servings of chili Determine the average cost per serving at each of the following monthly volumes: 100; 1,000; 5,000; and 10,000. Round answers to one decimal place. Volume Average Unit Cost 100 1,000 5,000 10,000 Determine the monthly volume at which the average cost per serving is $0.70.
Using the following information, determine the net operating income NOI. Subject Property Number of apartments 15 Market rent per month. 1000 Vacancy and collection losses 10% of PGI Operating expenses 5% of EGI Capital expenditures 10% of EGI