2. With your Total Fixed Cost and Variable Cost per Unit from the high-low method, compute the total cost for the following values of N (Number of Units Produced).Number ofUnits Produced3,5004,3608,8003. Why does the total cost computed for 4,360 units not match the data for January?a. The high-low method is accurate only for months in which production is at full capacity.b. The high-low method only gives accurate data when fixed costs are zero.c. The high-low method gives a formula for the estimated total cost and may not match levels of production other than the highest and lowest.d. The high-low method gives accurate data only for levels of production outside the relevant range.ссVFeedbackTotal Cost►Check My WorkContribution MarginReview the contribution margin income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income Statements. Complete the following table from the data provided on the income statements. Each companysold 82,800 units during the year.Contribution margin ratio (percent)Unit contribution marginBreak-even sales (units)Break-even sales (dollars)Cover-to-CoverCompany%Biblio FilesCompany$$% Cost BehaviorCover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow.Total Total MachineDepreciationCostTotalUnits Lumber UtilitiesProduced Cost Cost8,000 shelves $96,000 $10,20016,000 shelves 192,000 19,400$145,000145,00032,000 shelves 384,000 37,800145,00040,000 shelves 480,000 47,000145,0001. Determine whether the costs in the table are variable, fixed, mixed, or none of these.Variable CostMixed CostFixed CostDepreciation✓=2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit)answers to two decimal places.LumberUtilitiesCostLumberUtilitiesDepreciationFeedbackFixed Portionof CostCheck My WorkJanuaryFebruaryMarchApril✓✓✓Variable Portionof Cost (per Unit)High-LowBiblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow.Units ProducedTotal Cost4,360 units300$65,6006,25015,000133.7501,0008,800May1,75032,50048,000June3,0151. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the high-low method. Recall that Total Costs = (Variable Cost Per Unit x Number of Units Produced) + Fixed Cost. Complete the following table.Total Fixed CostVariable Cost per Unit

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Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Total Lumber Utilities Cost Cost Total Total Machine Depreciation Cost $145.000 145.000 145.000 145.000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these -√ Motilities Depreciation Variable Cost Mixed Cost Fixed Cost ✓ ✔ For each cost, determine the fixed portion of the cost and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that for N- Number of Units Produced. Total Costs (Variable Cost Per Unitx N) - Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per uni answers to two decimal places. Units Produced 8.000 shelves $96.000 $10.200 16.000 shelves 192.000 19.400 32.000 shelves 384.000 37,800 40.000 shelves 480.000 47.000 Cost Depreciation Foodback 1000 Fixed Portion of Cost Variable Portion of Cost (per Unit)

Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Total Lumber Utilities Cost Cost Total Total Machine Depreciation Cost $145.000 145.000 145.000 145.000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these -√ Motilities Depreciation Variable Cost Mixed Cost Fixed Cost ✓ ✔ For each cost, determine the fixed portion of the cost and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that for N- Number of Units Produced. Total Costs (Variable Cost Per Unitx N) - Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per uni answers to two decimal places. Units Produced 8.000 shelves $96.000 $10.200 16.000 shelves 192.000 19.400 32.000 shelves 384.000 37,800 40.000 shelves 480.000 47.000 Cost Depreciation Foodback 1000 Fixed Portion of Cost Variable Portion of Cost (per Unit)

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter20: Activity-based Costing (abc)

Section: Chapter Questions

Problem 1R: Bumblebee Mobiles manufactures a line of cell phones. The management has identified the following...

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Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000    $7,900    $135,000    12,000 shelves 144,000    14,800    135,000    24,000 shelves 288,000    28,600    135,000    30,000 shelves 360,000    35,500    135,000    2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places. Cost Fixed Portionof Cost Variable Portionof Cost (per Unit) Lumber $fill in the blank…
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 12,000 shelves $144,000    $14,800    $130,000    24,000 shelves 288,000    28,600    130,000    48,000 shelves 576,000    56,200    130,000    60,000 shelves 720,000    70,000    130,000    1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Variable Cost Utilities Mixed Cost Depreciation Fixed Cost 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round…
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000    $7,900    $135,000    12,000 shelves 144,000    14,800    135,000    24,000 shelves 288,000    28,600    135,000    30,000 shelves 360,000    35,500    135,000    1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit)…
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000 $8,400 $125,000 12,000 shelves 144,000 15,300 125,000 24,000 shelves 288,000 29,100 125,000 30,000 shelves 360,000 36,000 125,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per…
Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Total Total Total Machine Units Lumber Utilities Depreciation Produced Cost Cost Cost 6,000 shelves $72,000 $8,900 $125,000 12,000 shelves 144,000 15,800 125,000 24,000 shelves 288,000 29,600 125,000 30,000 shelves 360,000 36,500 125,000 1. Determine whether the costs in the table are variable, fixed, mizxed, or none of these. Lumber Variable Cost Mixed Cost Depreciation Fixed Cost Number of Units Produced, Total Costs = 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0. Recall that, for N = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two…
Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Total Total Total Machine Units Lumber Utilities Depreciation Produced Cost Cost Cost 5,000 shelves $50,000 $7,250 $145,000 10,000 shelves 100,000 13,000 145,000 20,000 shelves 200,000 24,500 145,000 25,000 shelves 250,000 30,250 145,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Variable Cost v Utilities Mixed Cost V Depreciation Fixed Cost v 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit)…
Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow. Units Produced Total Cost January 4,360 units $65,600 February 300 6,250 March 1,000 15,000 April 4,800 73,750 May 1,750 32,500 June 3,015 48,000 1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the high-low method. Recall that Total Costs = (Variable Cost Per Unit x Number of Units Produced) + Fixed Cost. Complete the following table. Total Fixed Cost Variable Cost per Unit $ 2. With your Total Fixed Cost and Variable Cost per Unit from the high-low method, compute the total cost for the following values of N (Number of Units Produced). Number of Units Produced Total Cost 3,500 4,360 4,800
Mastery Problem: Cost-Volume-Profit Analysis Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Total Total Total Machine Units Lumber Utilities Depreciation Produced Cost Cost Cost 9,000 shelves $99,000 $11,850 18,000 shelves 198,000 $120,000 22,200 120,000 36,000 shelves 396,000 42,900 120,000 45,000 shelves 495,000 53,250 120,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit)…
Mastery Problem: Cost-Volume-Profit Analysis Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Total Total Machine Depreciation Cost Total Cost Units Lumber Utilities Produced Cost 9,000 shelves $99,000 $11,850 $120,000 18,000 shelves 198,000 22,200 120,000 36,000 shelves 396,000 42,900 120,000 45,000 shelves 495,000 53,250 120,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Variable Cost Mixed Cost Fixed Cost Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round…
Mastery Problem: Cost-Volume-Profit Analysis Question Content Area Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 11,000 shelves $121,000 $14,650 $140,000 22,000 shelves 242,000 27,300 140,000 44,000 shelves 484,000 52,600 140,000 55,000 shelves 605,000 65,250 140,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed…
Mastery Problem: Cost-Volume-Profit Analysis Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. Total Total Lumber Utilities Cost $11,850 22,200 Cost 9,000 shelves $99,000 $120,000 18,000 shelves 198,000 120,000 36,000 shelves 396,000 42,900 120,000 45,000 shelves 495,000 53,250 120,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Variable Cost Mixed Cost Fixed Cost Units Produced Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per…
Mastery Problem: Cost-Volume-Profit Analysis Answer this question please Question Content Area Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 7,000 shelves $84,000 $9,550 $140,000 14,000 shelves 168,000 17,600 140,000 28,000 shelves 336,000 33,700 140,000 35,000 shelves 420,000 41,750 140,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable…