Consider the following information: Costs Activity (hours) $ 51,000 40,000 $ 50,000 41,000 $ 58,000 42,000 $ 56,000 43,000 What cost and activity would be used as the high data point in high-low cost estimation? Multiple Choice None of these. $58,000 and 42,000 hours $58,000 and 43,000 hours $56,000 and 43,000 hours $56,000 and 42,000 hours

Consider the following information: Costs Activity (hours) $ 51,000 40,000 $ 50,000 41,000 $ 58,000 42,000 $ 56,000 43,000 What cost and activity would be used as the high data point in high-low cost estimation? Multiple Choice None of these. $58,000 and 42,000 hours $58,000 and 43,000 hours $56,000 and 43,000 hours $56,000 and 42,000 hours

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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Given the following information, choose the cost and activity that would be used as the high data point in high-low cost estimation: Costs (P) Activity (hours) 48 000 41 500 49 000 42 000 57 000 42 500 56 000 43 000 55 000 43 500 O P57 000 and 43 500 hours O P55 000 and 43 000 hours O P55 000 and 42 500 hours O P55 000 and 43 500 hours O P57 000 and 42 500 hours O P56 000 and 43 500 hours
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sing the following data, apply the high-low method of cost analysis to the three cost data groups: Volume Alpha Beta Gamma 2,000 $6,600 $2,400 $8,000 6,000 $9,800 $7,000 $8,000 13,000 $13,000 $12,000 $8,000 20,000 $21,000 $24,000 $8,000 What cost behavior patterns are apparent for Beta? Select one: a. Fixed b. Variable c. Mixed d. Semi-fixed e. None of the above
Using the following data, apply the high-low method of cost analysis to the three cost data groups: Volume Alpha Beta Gamma 2,000 $6,600 $2,400 $8,000 6,000 $9,800 $7,000 $8,000 13,000 $13,000 $12,000 $8,000 20,000 $21,000 $24,000 $8,000 What cost behavior patterns are apparent for Gamma? Select one: a. Fixed b. Variable c. Mixed d. Semi-fixed e. None of the above
Using the following data, apply the high-low method of cost analysis to the three cost data groups: Volume Alpha Beta Gamma 2,000 $6,600 $2,400 $8,000 6,000 $9,800 $7,000 $8,000 13,000 $13,000 $12,000 $8,000 20,000 $21,000 $24,000 $8,000 What cost behavior patterns are apparent for each group? Select one: a. Alpha = Variable, Beta = Mixed, Gamma = Fixed b. Alpha = Mixed, Beta = Fixed, Gamma = Variable c. Alpha = Variable, Beta = Fixed, Gamma = Mixed d. Alpha = Fixed, Beta = Variable, Gamma = Mixed e. Alpha = Mixed, Beta = Variable, Gamma = Fixed
4. The MTN Company has assembled the following data pertaining to certain costs which cannot be easily identified as either fixed or variable. MTN has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation eege d) Cost $100,000 61,000 85,000 78,200 91,000 110,400 106,000 93,000 Hours 3,500 2,000 2,600 2,450 3,000 3,900 3,740 3,380 Calculate the variable cost per hour Calculate the total fixed costs Write the equation which measures the cost behaviour of the costs Calculate the operating costs for 3,750 hours.
Find the missing information Output Fixed Variable Total Costs Costs Cost of (units) Costs per unit stion Company 4000 50000 70000 ? ? A Select one: O a. Total cost 120000 cost per unit 15.5 O b. otal cost 120000 cost per unit 30 O c. Total cost 74000 cost per unit 18.5 O d. Total cost 54000 cost per unit 13.5
Your boss would like you to estimate the fixed and variable components of a particular cost Actual data for this cost over four recent periods appear below. Activity Cost Period 1 22 235 Period 2 23 243 Period 3 25 255 Period 4 20 227 Using the least-squares regression method, what is the cost formula for this cost? Y = P107.45 + P5.89X O Y = P0.00 + P10.67X O Y = P111.92 + P5.69X O Y = P120.81 + P3.56X
From the below given data, which cost has no relationship with the level of output? Type of cost Amounts (OMR) Total cost 6,000 Variable costs 4,000 Semi variable costs 1,000 Fixed cost 1,000 O a. Variable costs O b. Semi variable costs OC. Total cost Od. Fixed cost
CVP computations. Fill in the blanks for each of the following independent cases.
The MTN Company has assembled the following data pertaining to certain costs which cannot be easily identified as either fixed or variable. MTN has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation Cost Hours $100,000 3,500 61,o00 2,000 85,000 2,600 78,200 2,450 91,000 3,000 110,400 3,900 106,000 3,740 93,000 3,380 Calculate the variable cost per hour Calculate the total fixed costs Write the equation which measures the cost behavior of the costs Calculate the operating costs for 3,750