Required information[The following information applies to the questions displayed below.]Felix & Company reports the following information.Period Units Produced0129104088001,2001,6002,0002,4002,8003,2003,600Total Costs$ 2,545Total cost at the high pointVariable costs at the high pointVolume at the high pointVariable cost per unitTotal variable costs at the high pointTotal fixed costs3,2653,9854,7055,4256,1456,8657,585(1) Use the high-low method to estimate the fixed and variable components of total costs.(2) Estimate total costs if 3,000 units are produced.High-Low method- Calculation of variable cost per unit8,3059,025Total cost at the low pointVariable costs at the low pointVolume at the low pointVariable cost per unitTotal variable costs at the low pointTotal fixed costs(2) Estimated cost if 3,000 units are produced:Estimated total costHigh-Low method-Calculation of fixed costs0

The high-low method is an easy and cost efficiency method for managers to estimate cost behaviour.…

Felix & Company reports the following information. Period 1 2 3 4 5 6 9 10 Units Produced 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 Total Costs $ 2,545 3,265 3,985 4,705 5,425 6,145 6,865 7,585 8,305 9,025 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced.

Felix & Company reports the following information. Period 1 2 3 4 5 6 9 10 Units Produced 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 Total Costs $ 2,545 3,265 3,985 4,705 5,425 6,145 6,865 7,585 8,305 9,025 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced.

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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Question: Warner Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 2,070 1,200 $210,500 158,400 3,200 Required: 246,400 a) Determine the variable cost per unit and the total fixed cost. (Round to nearest dollar) b) Based on part (a), estimate the total cost for 1,580 units of production.
Wildhorse Company has a unit selling price of $730, variable costs per unit of $500, and fixed costs of $208,380. Compute the break-even point in units using (a) the mathematical equation and (b) unit contribution margin. (a) Mathematical Equation (b) Unit contribution margin Break-even point units units
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JSON-5313 Inc. produces Products X5, Y8, and Z9. The following table provides per unit information relating to the three products: Product Y8 X5 Z9 Selling price $ 72.00 $ 54.00 $ 62.00 Variable expenses: Direct materials 21.60 18.00 9.00 21.60 22.50 34.40 43.20 43.40 Other variable expenses Total variable expenses Contribution margin Contribution margin ratio 40.50 $13.50 $28.80 $18.60 40% 25% 30% JSON-5313 has enough demand to sell 700 units of each product per month. Each product requires the same direct materials in its production. The direct materials cost $3 per pound. The company will at most have 4,800 pounds of the direct materials available every month. What is the maximum contribution margin that JSON-5313 can earn per month using its 4,800 pounds of direct materials optimally? O $ 10,800 O $ 13,020 O $ 23,820 O $ 26,320
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced Total Costs 1 0 $ 2,900 2 460 3,774 3 860 4,534 4 1,260 5,294 5 1,660 6,054 6 2,060 6,814 7 2,460 7,574 8 2,860 8,334 9 3,260 9,094 10 3,660 9,854 Exercise 21-6A (Algo) Appendix: Measuring costs using regression LO P1 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. Cost equation = + per unit
Pharoah Company has a unit selling price of $576, variable costs per unit of $324, and fixed costs of $183,456. Compute the break-even point in units using (a) the mathematical equation and (b) unit contribution margin. Break-even point (a) Mathematical Equation (b) Unit contribution margin units units
Menk Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 6.80 Direct labor $ 3.80 Variable manufacturing overhead $ 2.00 Fixed manufacturing overhead $ 20,200 Sales commissions $ 0.50 Variable administrative expense $ 0.40 Fixed selling and administrative expense $ 10,100 Required: a. If 5,220 units are sold, what is the variable cost per unit sold? Note: Round "Per unit" answer to 2 decimal places. b. If 5,220 units are sold, what is the total amount of variable costs related to the units sold? c. If 5,220 units are produced, what is the total amount of manufacturing overhead cost incurred? a. Variable cost per unit sold b. Total variable costs c. Total manufacturing overhead cost
answer in text form please both a and b (without image)
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