Kirby Fasteners supplies the electronics industry with accessories for cases, disc enclosures, and so on. Below are the costs andvolumes for the past six months at its Plant number 6:Kirby FastenersPlant Number 6January to June ResultsVolume(Units)11,10010,04013,37013,90011,90011,680Required:a. Use the high-low method to estimate the monthly fixed cost of production and the variable cost of production per unit.b. Kirby analysts forecast a production level of 12,100 units in July. Based on the results from requirement (a), what would be theestimated production costs in July?Total Cost$ 196,900187,795222,400235,080214,555211, 212Complete this question by entering your answers in the tabs below.Required AVariable costFixed costRequired BUse the high-low method to estimate the monthly fixed cost of production and the variable cost of production per unit. (Round"Variable cost" answer to 2 decimal places.)< Required ARequired B > Required A Required BKirby analysts forecast a production level of 12,100 units in July. Based on the results from requirement (a), what would bethe estimated production costs in July? (Round "Variable cost" to 2 decimal places.)Production costs< Required ARequired B>

Production cost is the cost of making the goods. It is the cost which is used in the production of…

Kirby Fasteners supplies the electronics industry with accessories for cases, disc enclosures, and so on. Below are the costs and volumes for the past six months at its Plant number 6: Kirby Fasteners Plant Number 6 January to June Results Volume (Units) 11,100 10,040 13,370 13,900 11,900 11,680 Total Cost $ 196,900 187,795 222,400 235,080 214,555 211,212 Required: a. Use the high-low method to estimate the monthly fixed cost of production and the variable cost of production per unit. b. Kirby analysts forecast a production level of 12,100 units in July. Based on the results from requirement (a), what would be the estimated production costs in July?

Kirby Fasteners supplies the electronics industry with accessories for cases, disc enclosures, and so on. Below are the costs and volumes for the past six months at its Plant number 6: Kirby Fasteners Plant Number 6 January to June Results Volume (Units) 11,100 10,040 13,370 13,900 11,900 11,680 Total Cost $ 196,900 187,795 222,400 235,080 214,555 211,212 Required: a. Use the high-low method to estimate the monthly fixed cost of production and the variable cost of production per unit. b. Kirby analysts forecast a production level of 12,100 units in July. Based on the results from requirement (a), what would be the estimated production costs in July?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1COMP

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Kirby Fasteners supplies the electronics Industry with accessories for cases, disc enclosures, and so on. Below are the costs and volumes for the past six months at its Plant number 6: Kirby Fasteners Plant Number 6 January to June Results Total Cost $ 198,900 189,795 224,400 237,880 216,555 213,212 Volume (Units) 11,300 10,240 13,570 14,100 12,180 11,880 Required: a. Use the high-low method to estimate the monthly fixed cost of production and the variable cost of production per unit. b. Kirby analysts forecast a production level of 12,300 units in July. Based on the results from requirement (a), what would be the estimated production costs in July? Complete this question by entering your answers in the tabs below. Required A Required B Use the high-low method to estimate the monthly fixed cost of production and the variable cost of production per unit. Note: Round "Variable cost" answer to 2 decimal places. Variable cost Fixed cost
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