Fix costs per month? Given the following cost and activity observations for Smithson Company's utilities, usethe high-low method to calculate Smithson's fixed costs per month.Machine HoursCostJanuary $81,820 9,600February 144,460 18,300March103,080 12,500April120,230 14,900a. $21,600b. $40,600c. $10,200d. $12,700

Detailed explanation:High Low Method:Fixed Costs per month = Highest activity cost - (Variable cost…

Answered: Given the following cost and activity…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 3EA: Burnham Industries incurs these costs for the month: A. What Is the prime cost? B. What is the...

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Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to calculate Bounty' variable utilities costs per machine hour. Round your answer to the nearest cent. March April May June Cost $3,100 2,700 2,900 3,600 Machine Hours 15.000 10,000 12,000 18,000
Given the following cost and activity observations for Leno Enterprises' utilities, use the high-low method to calculate Leno's variable utilities cost per machine hour. September October November December a) £0.08 b) £4.86 c) £0.25 d) £12.50 Cost Machine Hours £4,100 22,000£3,700 18,000£3,900 19,000 £4,500 28,000
The controller of Sunland Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month TotalMaintenance Costs TotalMachine Hours January $2,590 330 February 2,890 380 March 3,490 530 April 4,390 660 May 3,090 530 June 5,470 730 Determine the variable cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per machine hour $enter the variable cost per machine hour in dollars rounded to 2 decimal places Determine the fixed cost components using the high-low method. Total fixed costs $enter the total fixed costs in dollars
6. The Kentucky Tools Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month January April July October Cost of Electricity (Y) Direct Labor-Hours (X) $7,000 750 $7,500 850 $8,500 $7,250 1,000 800 What would be the best equation using the high-low method? A) Y = $2,000+ $7.50X B) Y= $2,500 + $6X C) Y= $1,500 + $8X D) Y = $2,000 + $6X
Please provide answer
Solve for the cost line equation using the high-low method: \table[[Month, Units Produced,Total Cost], [1,4,500,$ 38,000
What are the estimated direct labor costs?
The controller of Carla Vista Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month Total Maintenance Costs Total Machine Hours January $2,830 300 February 3,130 350 March 3,730 500 April 4,630 690 May 3.330 500 June 6,030 700 (a1) Your answer is correct. Determine the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per machine hour $ 8 (a2) eTextbook and Media Determine the fixed costs using the high-low method for this mixed cost. Total fixed costs $ Attempts: 1 of 10 used
Using the high-low method, how much is the electricity costs if the actual machine hours used is 2,800?
The Miramichi Company uses the high-low method to estimate its cost function. The information for the current year is provided below: Highest observation of cost driver Lowest observation of cost driver $12,500 Machine-hours a. O b. $0 O C. $25,000 O d. $125,000 O e. $225,000 2,000 1,000 What is the constant for the estimating cost equation? Costs $225,000 $125,000
The controller of Carla Vista Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month Total Maintenance Costs Total Machine Hours January $2,830 300 February 3,130 350 March 3,730 500 April 4,630 690 May 3,330 500 June 6,030 700 (a1) Determine the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per machine hour $
2. Tech Company has the following data for its maintenance costs: month Total Maintenance Costs Total Machine Hours January $2900 300 February 3000 400 March 3600 600 April 4300 790 May 3200 500 June 4500 800 Determine the fixed and variable cost using the high low method!

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