Determine fixed and variable costs using the high-low method and prepare graph.E2.26 (LO 3) The controller of Furgee Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs.Total Maintenance CostsTotal Machine HoursMonthJanuaryFebruaryMarchAprilMayJune$2,5003,0003,6004,5003,2004,900300350500690400700Instructionsa. Determine the fixed and variable cost components using the high-low method.b. Prepare a graph showing the behaviour of maintenance costs, and identify the fixed and variable cost components. Use 100-hour increments and $1,000 costincrements.

Variable Cost -Any expense that fluctuates depending on the volume of output or the quantity of…

Determine fixed and variable costs using the high-low E2.26 (LO 3) The controller of Furgee Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance c Total Maintenance Costs Total Machine Hours $2,500 300 3,000 350 3,600 500 4,500 690 3,200 400 4,900 700 Month January February March April May June Instructions a. Determine the fixed and variable cost components using the high-low method. h Prepare a graph showing the behaviour of maintenance costs, and identify the fixed and variable cost components. Use 100-hour increments and $1,000 c

Determine fixed and variable costs using the high-low E2.26 (LO 3) The controller of Furgee Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance c Total Maintenance Costs Total Machine Hours $2,500 300 3,000 350 3,600 500 4,500 690 3,200 400 4,900 700 Month January February March April May June Instructions a. Determine the fixed and variable cost components using the high-low method. h Prepare a graph showing the behaviour of maintenance costs, and identify the fixed and variable cost components. Use 100-hour increments and $1,000 c

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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PR 18-4A Activity-Based Product Costing Obj. 4 Mello Manufacturing Company is a diversified manufacturer that manufactures three products (Alpha, Beta, and Omega) in a continuous production process. Senior management has asked the controller to conduct an activity-based costing study. The controller identified the amount of factory overhead required by the critical activities of the organization as follows: Activity Production Setup Materials handling Inspection Product engineering The activity bases identified for each activity are as follows: Activity Production Alpha Beta 3. Setup Materials handling Inspection Product engineering Total Omega Total Activity Base Machine hours Number of setups Number of parts The activity-base usage quantities and units produced for the three products were determined from corporate records and are as follows: Number of inspection hours Number of engineering hours Machine Hours 1,440 1,080 720 3,240 Number of Setups Activity Cost Pool $259,200 55,000…
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Help Save & Exit Submit TB MC Qu. 7-52 (Algo) Eccles Corporation uses an activity-based costing... Eccles Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs and its activity based costing system: Costs: Wages and salaries Depreciation Utilities $ 318,000 247,000 206,000 $ 771,000 Total Distribution of resource consumption: Activity Cost Pools Setting Up Assembly Other Total Wages and salaries Depreciation Utilities 30% 10% 45% 25% 100% 30% 20% 60% 100% 50% 30% 100% How much cost, in total, would be allocated in the first-stage allocation to the Assembly activity cost pool? Multiple Choice, hp
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of 3 bok nt ant ences Required information Gable Company uses three activity pools. Each pool has a cost driver. Information for Gable Company follows: Activity Pools Machining Designing costs Setup costs Number of machine hours Number of design hours. Number of batches Total Cost of Pool $ 222,420 55,900 72,726 Product A Product B Product C Cost Driver Number of machine hours Number of design hours Number of batches Suppose that Gable Company manufactures three products, A. B, and C. Information about these products follows: Product A 24,000 Product C 9,400 2,600 60 2,400 265 Total Overhead Assigned Product B 34,000 1,500 180 Required: 1. Using activity proportions, determine the amount of overhead assigned to each product. Note: Do not round your intermediate calculations. Round your final answers to nearest whole number. Estimated Cost Driver 67,400 6,500
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