Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smithson's fixed costs per month. Machine Hours Cost January $81,820 9,600 February 144,460 18,300 March 103,080 12,500 April a. $21,600 b. $40,600 c. $10,200 d. $12,700 120,230 14,900
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- Given the following cost and activity observations for Johnson Company's utilities, use the high-low method to calculate Johnson's fixed costs per month. Cost Machine Hours January $52,600 20,000 February 75,100 29,000 March 57,000 22,000 April 64,000 24,500Given the following cost and activity observations for Leno Enterprises'utilities, use the high-low method to calculate Leno's variable utilities cost permachine hour. Cost Machine HoursSeptember £4,100 22,000October £3,700 18,000November £3,900 19,000December £4,500 28,000a) £0.08b) £4.86c) £0.25d) £12.50Given 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
- Identifying the Parts of the Cost Formula; Calculating Monthly, Quarterly, and Yearly Costs Using a Cost Formula Based on Monthly Data Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $209,000 + ($82 x Direct Labor Hours) Required: 1. Select the term in the right column that corresponds to the term in the left column. Overhead cost Dependent variable v $209,000 Fixed cost (intercept) v $82 Variable rate (slope) Direct labor hours Independent variable v 2. If next month's budgeted direct labor hours equal 19,000, what is the budgeted overhead cost? 1,767,000 V 3. If next quarter's budgeted direct labor hours equal 95,000, what is the budgeted overhead cost? 4. If next year's budgeted direct labor hours equal 380,000, what is the budgeted overhead cost? $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 $125,000Given: The annual accounting data for 2018, presented below. : 1500K$ : 1000K$ Fixed factory overhead : 300K$ Variable factory overhead: 200KS Fixed admin costs : 500K$ Variable admin costs : 250KS : 400K$ 50KS :6000K$ Direct material Direct labour Sales salaries Sales commissions Sales Revenues Required: Write an income statement for the data given above, using a) the gross margin technique, and b) the contribution margin technique
- A.Prepare Statement of Income and Expenses with a marginal contribution approach. Empresas La Torre presents the following information for the year ended December 31, 2020: Product Costs: Direct materials (Variables) $ 50.00 per unit Direct Labor (Variable) $ 20.00 per hour Variable Indirect Costs $ 10.00 per hour Total Fixed Indirect Costs $ 250,000 Period Expenses Seller Commissions $ 20.00 per unit Variable Administrative Expenses $ 30.00 per unit Total Fixed Administrative Expenses $ 150,000 The company sells solar batteries at $ 200.00 per unit. Making each battery takes 2 hours of direct labor. The company taxes its income at 40%. If the Company sells 10,000 units, prepare a statement of income and expenses using the marginal contribution approach.Assume that a company provided the following cost formulas for three of its expenses (where qrefers to the number of hours worked): Rent (fixed) Supplies (variable) Utilities (mixed) $ 3,000 $ 4.00q $150 + $0.75q The company's planned level of activity was 2,000 hours and its actual level of activity was 1,900 hours. The actual amount of utilities expense for the period was $1,700. What is th spending variance for utilities expense?please solve the question with calculation
- Shock Company manufactures electronic equipment. The following is a summary of its basic cost and revenue data: Per Unit Percent Sales price $ 450 100.00 Variable costs 232 51.56 Unit contribution margin $ 218 48.44 Assume that Shock Company is currently selling 580 products per month and monthly fixed costs are $79,600. Shock Company's operating income (πB) is calculated to be:Mazoon Company has information on its revenue and costs is as follows: Selling price per unit $80; Variable costs per unit includes: Direct material $16, Direct manufacturing labor $8, Manufacturing overhead $8, and Selling costs $10; Annual fixed costs $96,000. What is the contribution margin percentage? Finisk a. 47.5% O b. 52.5% O c. 70% ype here to search & 7. V 3 5. 8. W. R Y. G H. V M alt ctri alt 立Cullumber Company has the following information available for September 2020. Unit selling price of video game consoles $490 Unit variable costs $294 Total fixed costs $92,120 Units sold 600 Compute the unit contribution margin. Unit contribution margin enter the unit contribution margin Prepare a CVP income statement that shows both total and per unit amounts. CULLUMBER COMPANYCVP Income StatementFor the Month Ended September 30, 2020 Total Per Unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a dollar amount $enter a dollar amount select an income statement item Administrative ExpensesContribution MarginCost of Goods…
