Felix & Company reports the following information. Period Total Costs 1 $ 2,505 2 3 4 5 6 7 8 9 10 Units Produced 0 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 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 3,145 3,785 4,425 5,065 Total cost at the low point Variable costs at the low point Volume at the low point Variable cost per unit Total variable costs at the low point Total fixed costs 5,705 6,345 (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. 6,985 7,625 8,265 High-Low method - Calculation of variable cost per unit High-Low method - Calculation of fixed costs (2) Estimated cost if 3,000 units are produced: Estimated total cost 0

Felix & Company reports the following information. Period Total Costs 1 $ 2,505 2 3 4 5 6 7 8 9 10 Units Produced 0 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 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 3,145 3,785 4,425 5,065 Total cost at the low point Variable costs at the low point Volume at the low point Variable cost per unit Total variable costs at the low point Total fixed costs 5,705 6,345 (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. 6,985 7,625 8,265 High-Low method - Calculation of variable cost per unit High-Low method - Calculation of fixed costs (2) Estimated cost if 3,000 units are produced: Estimated total cost 0

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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