Function: SLOPE, INTERCEPT; Cell Referencing Using Excel to Determine a Cost Equation Using the High-Low Method PROBLEM Markowis Corp. has collected the following data concerning its maintenance costs for the past 6 months. July August September October November December Units Produced Total Cost 18,000 $ 32,000 36,000 22,000 40,000 38,000 36,000 45,000 55,000 38,000 74,500 62,000 Student Work Area Required: Provide input into cells shaded in yellow in this template. Use cell references to the Problem area in the input cells in part a. In part b, use the SLOPE and the INTERCEPT functions with cell referencing to the work area. a. Select the data to use under high-low method. Total Cost High Low b. Compute the variable- and fixed-cost elements using Excel's SLOPE and INTERCEPT functions. Variable cost Units Total fixed costs per unit
Function: SLOPE, INTERCEPT; Cell Referencing Using Excel to Determine a Cost Equation Using the High-Low Method PROBLEM Markowis Corp. has collected the following data concerning its maintenance costs for the past 6 months. July August September October November December Units Produced Total Cost 18,000 $ 32,000 36,000 22,000 40,000 38,000 36,000 45,000 55,000 38,000 74,500 62,000 Student Work Area Required: Provide input into cells shaded in yellow in this template. Use cell references to the Problem area in the input cells in part a. In part b, use the SLOPE and the INTERCEPT functions with cell referencing to the work area. a. Select the data to use under high-low method. Total Cost High Low b. Compute the variable- and fixed-cost elements using Excel's SLOPE and INTERCEPT functions. Variable cost Units Total fixed costs per unit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please show your work.
Transcribed Image Text:Function: SLOPE, INTERCEPT; Cell Referencing
Using Excel to Determine a Cost Equation Using the High-Low
Method
PROBLEM
Markowis Corp. has collected the following data concerning its
maintenance costs for the past 6 months.
July
August
September
October
November
December
Units
Produced
Total Cost
18,000 $
32,000
36,000
22,000
40,000
38,000
36,000
45,000
55,000
38,000
74,500
62,000
Student Work Area
Required: Provide input into cells shaded in yellow in this template. Use
cell references to the Problem area in the input cells in part a. In part b,
use the SLOPE and the INTERCEPT functions with cell referencing to the
work area.
a. Select the data to use under high-low method.
High
Low
Variable cost
Units
b. Compute the variable- and fixed-cost elements using Excel's
SLOPE and INTERCEPT functions.
Total fixed costs
Total Cost
per unit
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education