Jackman Enterprises accumulates the following data concerning a mixed cost, using machine hours as the activity level. Month Machine Hours Total Cost March 15,000 April 10,000 May 12,500 $24,500 $19,200 $21,800 $16,900 June 7,500 Instructions: Compute the variable and fixed cost elements using the high-low method.

Jackman Enterprises accumulates the following data concerning a mixed cost, using machine hours as the activity level. Month Machine Hours Total Cost March 15,000 April 10,000 May 12,500 $24,500 $19,200 $21,800 $16,900 June 7,500 Instructions: Compute the variable and fixed cost elements using the high-low method.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....

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Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?
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Compute the variable and fixed cost elements