>High-low methodEvander Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable costcomponents of the total cost. The data for various levels of production are as follows:Units Produced1,5952,800Total Costs$193,140261,600a.4,495300,440Determine the variable cost per unit and the total fixed cost.Variable cost $Total fixed cost $b. Based on part (a), estimate the total cost for 2,190 units of production.Total cost for 2,190 units $

Given information, Highest activity cost = $300,440Lowest activity cost = $193,140Highest activity…

Answered: > High-low method Evander Inc. has…

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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Complete the table below for contribution margin per unit, total contribution margin, and contribution margin ratio: E (Click the icon to view the table.) Compute the missing information, starting with scenario A, then for scenarios B and C. (Enter the contribution margin ratio to nearest percent, X%.) A Number of units 1,510 units Sale price per unit $ 1,600 Variable costs per unit 1, 120 Calculate: Contribution margin per unit Total contribution margin Contribution margin ratio Data Table A Number of units 1,510 units 14,390 units 2,450 units Sale price per unit 1,600 $ 4.400 5,000 Variable costs per unit 1,120 880 3,750 Calculate: Contribution margin per unit Total contribution margin Contribution margin ratio Print Done Enter any number in the edit fields and then click Check Answer. parts remaining Clear All Final Check
1. Copy and complete the table which shows output-cost relationship: Unit of Output ($) Fixed Cost (FC) ($) Variable Cost (VC) ($) Total Cost (TC) ($) Average Cost (AC) ($) Marginal Cost (MC) 1 20 ------ 80 80 80 2 20 130 ----- 75 ---- 3 20 190 210 ----- 60 4 20 ------ 264 66 ----- 5 20 280 ------ ----- 36
Find the missing information Output Fixed Variable Total Costs Costs Cost of (units) Costs per unit stion Company 4000 50000 70000 ? ? A Select one: O a. Total cost 120000 cost per unit 15.5 O b. otal cost 120000 cost per unit 30 O c. Total cost 74000 cost per unit 18.5 O d. Total cost 54000 cost per unit 13.5
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Total cost is 500000 OMR, Fixed cost is 0. Calculate, Total Variable cost. Select one: a. 500000 OMR b. 253000 Units c. 251000 OMR d. 252000 Units
High-Low Method Tashiro Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 4,185 $294,840 1,485 189,540 2,840 203,440 a. Determine the variable cost per unit and the total fixed cost. Variable cost (Round to two decimal places.) $fill in the blank 1 per unit Total fixed cost $fill in the blank 2 b. Based on part (a), estimate the total cost for 2,040 units of production. Total cost for 2,040 units: $fill in the blank 3
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High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 4,760 $305,760 1,960 196,560 3,290 236,090 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) $fill in the blank Total fixed cost: $fill in the blank b. Based on part (a), estimate the total cost for 2,420 units of production. Total cost for 2,420 units: $fill in the blank
Base from the data, determine the correct cost classifications: Cost ltem Cost at 100 units Cost at 140 units P P8,000 P10,560 L P5,000 P5,000 A P6,500 P9,100 Y P6,700 P8,580 Cost P Cost L Cost A Cost YA. variable fixed mixed variableB. variable fixed variable variableC. mixed fixed mixed mixedD. mixed fixed variable mixed
The McGraw Company is accumulating data to be used in preparing its annual profit plan for the coming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff has suggested that linear regression be employed to derive an equation in the form of y = a + bx for maintenance costs. Data regarding the maintenance hours and costs for last year and the results of the regression analysis are as follows: (CMA adapted) Hours of January February March April May June July August September October November December Sum Average A coefficient B coefficient Standard error of the a coefficient Standard error of the b coefficient Standard error of the estimate R² T-value a T-value b Activity 480 320 400 300 500 310 320 520 490 470 350 340 4,800 400 49.515 0.12126 Maintenance Costs 4,200 3,000 3,600 2,820 4,350 2,960 3,030 4,470 4,260 4,050 3,300 3,160 $ $ 43,200 3,600 684.65 7.2884 34.469 0.99724 13.827 60.105 What is the variable cost per hour using the high-low…

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