Answered: In applying the high-low method, what…

In applying the high-low method, what is the fixed cost? Month Miles Total Cost January 80000 $142000 February 54000 120000 March 70000 138000 April 84000 140000

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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Question

In applying the high-low method, what is the fixed cost?

Month	Miles	Total Cost
January	80000	$142000
February	54000	120000
March	70000	138000
April	84000	140000

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Required information Skip to question [The following information applies to the questions displayed below.] Alden Co.’s monthly unit sales and total cost data for its operating activities of the past year follow. Management wants to use these data to predict future fixed and variable costs. Month Units Sold Total Cost Month Units Sold Total Cost 1 315,500 $ 153,000 7 364,500 $ 311,084 2 160,500 96,750 8 265,500 147,250 3 260,500 201,100 9 76,900 69,500 4 200,500 95,500 10 145,500 126,125 5 285,500 197,000 11 89,500 89,500 6 185,500 107,500 12 95,500 86,150 1. Estimate both the variable costs per unit and the total monthly fixed costs using the high-low method. (Do not round intermediate calculations.) SEE PICTURE
Question 5 ) Answer with Formulas
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Electronio ExperGecupancy Percentage 62 Month January April August 6,200 6,600 68 7,200 78 December 5,500 50 Jsing the highllow two point method to: 1 Determine the variable cost per 1poercent of occupancy 2 Estimate the fixed costs per month 3 What is the estimated total electric expense at 62 pecent of ocoupancy? ANSWER Month Electronic Expenses Oooupanoy Percentage High August 7,200 78 Low December 5,500 50 Difference 1,700 28 1 Variable cost per 1% of ocoupanoy = 61 2 Total variable cost of electric expense for December = Total fixed cost of electric expense for December = 3,035.71 2,464.29 Total variable cost of electric expense for August = Total fixed cost of electrio expense for August = 4,735.71 2,464.29 3 Using the fixed cost for December as the total fixed cost for estimation Total variable cost of electric expense at 62%. oooupancy = Total fixed oost of electric expense at 62% occupanoy Estimated total electric expense at 62% occupancy =
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Fixed Cost 140000 OMR , selling price /unit= 30 OMR, variable cost /unit= 25 OMR calculate Break Even Point
In applying the high-low method, what is the fixed cost? Month Miles Total Cost January 86000 $182000 February 60000 150000 March 78000 178000 April 92000 200000 $22000 $28000 $56250 $32000
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