Culver World provided the following data concerning its costs of operating and the number of riders of its Scream ride and the relatedlinear regression for selected operation months:RidersOperating costsJanuary$2.40$1.84$1.94O $2.052900$8640February March April2800$851023002210May2500$7490 $6984 $7910Using the high-low method, what is the unit variable cost for the Scream ride?June2700$8580

The high-low method is used to differentiate the mixed costs. Mixed cost is the combination of fixed…

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 O $2.40 O $1.84 O $1.94 O $2.05 2900 $8640 February March 2300 2700 $8510 $7490 $6984 $7910 $8580 2800 April 2210 May 2500 Using the high-low method, what is the unit variable cost for the Scream ride? June

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 O $2.40 O $1.84 O $1.94 O $2.05 2900 $8640 February March 2300 2700 $8510 $7490 $6984 $7910 $8580 2800 April 2210 May 2500 Using the high-low method, what is the unit variable cost for the Scream ride? June

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Identifying the Parts of the Cost Formula; Calculating Monthly, Quarterly, and Yearly Costs Using a Cost Formula Based on Monthly Data Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $150,000+ ($52 x Direct Labor Hours) Required: 1. Select the term in the right column that corresponds to the term in the left column. Overhead cost $150,000 $52 Direct labor hours
need answer of this Question Please Provide it
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow: Month Machine Hours Electricity Costs January 2,500 $ 18,400 February 2,900 21,000 March 1,900 13,500 April 3,100 23,000 May 3,800 28,250 June 3,300 22,000 July 4,100 24,750 August 3,500 22,750 September 2,000 15,500 October 3,700 26,000 November 4,700 31,000 December 4,200 27,750 Summary Output Regression Statistics Multiple R 0.965 R Square 0.932 Adjusted R2 0.925 Standard Error 1,425.18 Observations 12.00 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 3,726.88 1,682.82 2.21 0.05 (22.69) 7,476.45 Machine Hours 5.77 0.49 11.7 0.00 4.67 6.87 The percent of the total variance that can be explained by the regression is:…
[The following information applies to the questions displayed below.] Alden Company's monthly data for the past year follow. Management wants to use these data to predict future variable and fixed costs. Month Units Sold Total Cost Month Units Sold Total Cost 1 324,500 $ 162,000 7 355,500 $ 245,564 2 169,500 105,750 8 274,500 156,250 3 269,500 210,100 9 75,100 60,500 4 209,500 104,500 10 154,500 135,125 5 294,500 206,000 11 6 194,500 116,500 12 98,500 104,500 98,500 77,150 Problem 18-1A (Algo) Part 1 1. Estimate both the variable costs per unit and the total monthly fixed costs using the high-low method. (Do not round intermediate calculations.) High-Low method - Calculation of variable cost per unit Total cost at the high point Variable costs at the high point: Volume at the high point: Variable cost per unit Total variable costs at the high point Total fixed costs High-Low method - Calculation of fixed costs Total cost at the low point Variable costs at the low point: Volume at the…
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
Western Trucking operates a fleet of delivery trucks. The fixed expenses to operate the fleet are $80,910 in March and rose to $93,120 in April. It costs Western Trucking $0.14 per mile in variable costs. In March, the delivery trucks were driven a total of 87,000 miles, and in April, they were driven a total of 97,000 miles. Using this information, answer the following: A. What were the total costs to operate the fleet in March and April, respectively? March April Total cost $fill in the blank 1 $fill in the blank 2 B. What were the cost per mile to operate the fleet in March and April, respectively? If required, round your answers to nearest cent. March April Cost per mile $fill in the blank 3 $fill in the blank 4
Bramble Company reports the following operating results for the month of August: sales $300,000 (units 5,000); variable costs $217,000; and fixed costs $70,000. Management is considering the following independent courses of action to increase net income.Compute the net income to be earned under each alternative.1. Increase selling price by 10% with no change in total variable costs or sales volume. Net income $enter a net income if the selling price is increased by 10% 2. Reduce variable costs to 55% of sales. Net income $enter a net income if the variable costs are reduced to 55% of sales 3. Reduce fixed costs by $18,000. Net income $enter a net income if the fixed costs are reduced by $18,000
The following data pertain to activity and utilities costs for two recent years: Activity Level in Units Utilities Cost Multiple Choice 5075 per unit $1.50 per unit Using the high-low method, what is the variable cost per unit for utilities? $125 per unit Year 2 $133 per unit 12,000 $15,000 Year 1 8,000 $12,000
Give me correct answer and explanation.s
tioBear Publishing sells a nature guide. The following information was reported ftor a typical month: s) is private when it is sent to this site. Total Per Unit Sales $ 17,600 $ 16.00 Variable expenses 9,680 ate (Va Contribution margin 7,920 Fixed expenses s (21 in use) Net operating income 3,600 $ 4,320 tings What is Bear's current break-even point in unit and dollars? (Round your intermediate calculations to 2 decimal places.) Multiple Choice 500 units and $8,000 1,100 units and $17,600 8,000 units and $500 1,100 units and $8,000
Western Trucking operates a fleet of delivery trucks. The fixed expenses to operate the fleet are $80,910 in March and rose to $92,150 in April. It costs Western Trucking $0.14 per mile in variable costs. In March, the delivery trucks were driven a total of 87,000 miles, and in April, they were driven a total of 95,000 miles. Using this information, answer the following: A. What were the total costs to operate the fleet in March and April, respectively? March April Total cost $ B. What were the cost per mile to operate the fleet in March and April, respectively? If required, round your answers to nearest cent. March April Cost per mile $