Required information[The following information applies to the questions displayed below.]Felix & Company reports the following information.Period Units ProducedTotal Costs10$4,82024, 1203456789107201, 1201,5201,9202,3202,7203,1203,5203,9204,5205,1204,2204,4208,92016,320Total cost at the highest volumeVariable costs at highest volumeHighest volumeVariable cost per unitTotal variable costs at highest volumeTotal fixed costs5, 12014, 228(1) Use the high-low method to estimate the fixed and variable components of total costs.(2) Estimate total costs if 4,050 units are produced.High-Low method - Calculation of variable cost per unitHigh-Low method - Calculation of fixed costsTotal cost at the lowest volumeVariable costs at lowest volumeLowest volumeVariable cost per unitTotal variable costs at lowest volumeTotal fixed costs(2) Estimated cost if 4,050 units are produced:Estimated total cost0

The mixed costs of production comprise variable and fixed costs. The variable costs change with a…

Felix & Company reports the following information. Period Units Produced 1 0 2 720 3 1,120 1,520 1,920 2,320 2,720 4 5 6 7 8 9 10 3, 120 3,520 3,920 Total Costs $4,820 4, 120 4,520 5,120 4,220 4,420 8,920 16,320 5,120 14, 228 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 4,050 units are produced. High-Low method - Calculation of variable cost per unit

Felix & Company reports the following information. Period Units Produced 1 0 2 720 3 1,120 1,520 1,920 2,320 2,720 4 5 6 7 8 9 10 3, 120 3,520 3,920 Total Costs $4,820 4, 120 4,520 5,120 4,220 4,420 8,920 16,320 5,120 14, 228 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 4,050 units are produced. High-Low method - Calculation of variable cost per unit

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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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
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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