Hy teacher give me answer please In August, Summit Retreat Company incurred $68,500 of food service costs andserved 14,000 meals. In November, when 9,000 meals were served, the food servicecost was $53,800. Based on this limited data, estimate the variable cost per mealand the total fixed cost using the high-low method.

Step 1: Definition of High-Low MethodThe high-low method is a cost estimation technique used to…

Answered: In August, Summit Retreat Company…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 8EA: Using the information in the previous exercises about Marleys Manufacturing, determine the operating...

See similar textbooks

Similar questions

Please help
Please answer the following requirements a and b on these general accounting question
General Accounting
Give answer the financial accounting question
The variable cost per unit
Estimate for the cost of Food services.
Estimate for the cost of food service?
???
Using the information in the previous exercises about Marleys Manufacturing, determine the operating income for department B, assuming department A sold department B 1,000 units during the month and department A reduces the selling price to the market price.
Give true answer this accounting question
Louis Petit, a manager of Doggone Gorgeous, Inc., was reviewing the water bills of a dog daycare and spa. He determined that its highest and lowest bills of $3,800and $2,000 were incurred in the months of May and November, respectively. If 600 dogs were washed in May and 100 dogs were washed in November, what was the fixed cost associated with the company's water bill? (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) A.$ 2 comma 000 $2,000 B.$ 1 comma 800 $1,800 C.$ 1 comma 640 $1,640 D.$ 3 comma 800
Following is relevant information for Philly's Sandwich Shop, a small business that serves sandwiches: Total fixed cost per month Variable cost per sandwich $1,020.00 1.50 Sales price per sandwich 5.75 During the month of June, Philly's sold 580 sandwiches. Required: Complete the contribution margin income statement for the month of June. Note: Round your final answers to the nearest whole dollar. Philly's Sandwich Shop Contribution Margin Income Statement Month of June Contribution margin Net Operating income

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

In August, Summit Retreat Company incurred $68,500 of food service costs and served 14,000 meals. In November, when 9,000 meals were served, the food service cost was $53,800. Based on this limited data, estimate the variable cost per meal and the total fixed cost using the high-low method.