High-Low and Cost Formula Harrison Company has accumulated the following total manufactur- ing overhead costs for two levels of activity (within the relevant range): Low High Activity (direct labor hours).. Total manufacturing overhead. 80,000 $468,000 120,000 $604,000 The total overhead cost includes variable, fixed, and mixed costs. At 120,000 direct labor hours, the total cost breakdown is as follows: Variable cost.. $264,000 160,000 180,000 Fixed cost. Semi-mixed cost Required Using the high-low method of cost analysis, determine the variable portion of the semi-variable cost per direct labor hour. Determine the total fixed cost component of the mixed cost. What should the total planned overhead cost be at 100,000 direct labor hours? a. b.

High-Low and Cost Formula Harrison Company has accumulated the following total manufactur- ing overhead costs for two levels of activity (within the relevant range): Low High Activity (direct labor hours).. Total manufacturing overhead. 80,000 $468,000 120,000 $604,000 The total overhead cost includes variable, fixed, and mixed costs. At 120,000 direct labor hours, the total cost breakdown is as follows: Variable cost.. $264,000 160,000 180,000 Fixed cost. Semi-mixed cost Required Using the high-low method of cost analysis, determine the variable portion of the semi-variable cost per direct labor hour. Determine the total fixed cost component of the mixed cost. What should the total planned overhead cost be at 100,000 direct labor hours? a. b.

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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PLEASE EXPLAIN EACH POINT STEP BY STEP
The following unemployment tax rate schedule is in effect for the calendar year 2019 in State A, which uses thereserve-ratio formula in determining employer contributions:Reserve Ratio Contribution Rate0.0% or more, but less than 1.0% ............................ 6.7%1.0% or more, but less than 1.2% ............................ 6.4%1.2% or more, but less than 1.4% ............................ 6.1%1.4% or more, but less than 1.6% ............................ 5.8%1.6% or more, but less than 1.8% ............................ 5.5%1.8% or more, but less than 2.0% ............................ 5.2%2.0% or more, but less than 2.2% ........................... 4.9%2.2% or more, but less than 2.4% ........................... 4.6%2.4% or more, but less than 2.6% ........................... 4.3%2.6% or more, but less than 2.8% ........................... 4.0%2.8% or more, but less than 3.0% ............................ 3.7%3.0% or more, but less than 3.2% ............................ 3.4%3.2% or…