Lark Products, which uses the high-low method, had total costs of $30,000 at its lowest activity level when 6,000 units were sold. At its highest level of activity, sales equalled 15,000 units, and total costs were $50,000. Required: Estimate the fixed costs.
Q: What is your capital gain or loss on these financial accounting question?
A: Step 1: Define Capital Gain or LossA Capital Gain or Loss refers to the profit or loss realized from…
Q: Provide correct solution and accounting
A: a) Loan Amount CalculationHome Price: $259,000Down Payment Percentage: 10% = 0.10Down Payment…
Q: Need answer the general accounting question
A: Step 1: Define GoodwillGoodwill is the excess amount paid during an acquisition over the fair value…
Q: I need help with accounting
A: 1. Calculate the weight of debt and equity:Weight of Debt: Debt-to-Equity Ratio / (1 +…
Q: Need help with this financial accounting question
A: Step 1: Define Gain or Loss on Sale of an AssetA gain or loss on the sale of an asset is determined…
Q: Why does sustainability integration affect measurement choices? (1) Integration creates problems (2)…
A: Sustainability integration affects measurement choices because it brings in dimensions—like…
Q: The unit contribution margin?
A: Explanation of Operating Income: Operating income represents the profit earned from a company's core…
Q: Financial accounting problem
A: Explanation of Return on Assets (ROA):Return on Assets (ROA) is a financial ratio that measures a…
Q: Provide Financial Accounting Problem..
A: Step 1: Return on equity is calculated by dividing the Net income by the shareholders' equity. Step…
Q: Hello tutor solve this question and accounting
A: Step 1: Define Direct Labor BudgetThe direct labor budget gives an estimate of the direct labor cost…
Q: Please provide correct solution for this financial accounting question
A: Step 1: Define After-Tax YieldThe After-Tax Yield represents the actual return on investment after…
Q: What is the asset turnover for 2025 on these financial accounting question?
A: Step 1: Define Asset TurnoverAsset turnover is a financial ratio that measures the efficiency of a…
Q: What is the deficit as a percentage of GDP on these financial accounting question?
A: The national government's deficit is calculated as the difference between spending and revenues as a…
Q: Please solve.
A: Sales Revenue: This is the total revenue from sales, which is $35,800 million.Cost of Goods Sold…
Q: Accurate answer
A: Explanation of Borrowing Requirement:The borrowing requirement refers to the amount of money a…
Q: MCQ
A: To calculate the Return on Equity (ROE), use the formula: ROE = Net Income / Equity Step 1:…
Q: Compute the target selling price per unit?
A: Explanation of Direct Materials Cost: Direct materials cost represents the cost of raw materials…
Q: Summit Builders Corp. reports the following information regarding its production cost: please answer…
A: Step 1: Formula Under variable costing, the unit product cost will be calculated as: Unit product…
Q: Accurate answer
A: Step 1:The cost of the assets includes the purchase price and cost incurred to bring the assets to…
Q: Brighton Electronics sold 4,200 units in December at a sales price of $50 per unit. The variable…
A: Step 1:The total contribution margin is calculated as follows: Total contribution margin = Total…
Q: Hi experts please answer the general accounting
A: Step 1: Define Accrual Basis Net IncomeAccrual basis net income is calculated by recognizing…
Q: Calculate the number of units that must be sold in order to realize an operating income of $150,000…
A: To calculate the number of units that must be sold to achieve the desired operating income, use the…
Q: Need answer the financial accounting
A: To estimate the value of the privately-held firm, we can use the price-to-earnings (P/E) ratio of…
Q: Abc
A: NOPAT = EBIT x (1 - Tax Rate)We are given the following:EBIT = $90 millionTax Rate = 21% Let us…
Q: What distinguishes activity level validation from entitywide checks ?
A: Explanation of Activity-Level Validations:Activity-level validations refer to detailed tests or…
Q: General Account tutor answer this
A: The correct answer is:c. expenses, capital, and drawing. Explanation:Owner's equity is affected by…
Q: General Accounting
A: Step 1: Define Straight-Line DepreciationStraight-line depreciation is the method of allocating an…
Q: What is the length of the firm's cash conversion cycle on these financial accounting question?
A: Step 1: Define Cash Conversion Cycle (CCC)The cash conversion cycle (CCC) is a metric that measures…
Q: Kindly help me with accounting questions
A: Step 1: Determine the given and known data.direct materials = $25,000direct labor cost = unknown,…
Q: Need help with this general accounting question
A: Step 1: Define Amortization ExpenseAmortization expense refers to the periodic allocation of the…
Q: How much will Cedarwood need to borrow during November ?
A: The question pertains to minimum cash balance being maintained by businesses. A minimum…
Q: What are the beginning and ending amount of equity ??
A: Explanation of Equity:Equity represents the ownership interest of shareholders in a company,…
Q: Posting in general account subject
A: To calculate how much Assets changed by the end of the year and whether they increased or decreased,…
Q: Tutor provide answer please
A: For this question, we must compute for the ROE or the return on equity. Return on Equity (ROE) is a…
Q: I need help accounting
A: To calculate the division's margin, we use the formula: Margin = Net Operating Income / Sales Given…
Q: Total liabilities?
A: Step 1: Definition of LiabilitiesLiabilities represent a company's financial obligations or debts…
Q: What is the cost of goods sold by hodges department store?
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) refers to the direct costs…
Q: Question text A company sells a product with an associated warranty. (The customer must separately…
A: When a customer buys a warranty, the company receives cash and creates a warranty liability to…
Q: ??!!
A: Explanation of Variable Product Cost: Variable product cost represents all manufacturing costs that…
Q: What is the ocf for the project on these general accounting question?
A: To calculate the Operating Cash Flow (OCF) for the project, we use the formula: OCF = EBIT +…
Q: Please given answer general accounting
A: Step 1: Write the DuPont formulaStep 2: Substitute the given values for Profit Margin, Total Asset…
Q: Correct answer
A: Explanation of Trademark Account:A trademark account records the value of a trademark, which is an…
Q: Accounting
A: Step 1: Define Net ProfitNet profit is a metric that is found on the income statement at the bottom…
Q: CAN ANSWER ME??? GENERAL ACCOUNT
A: The correct answer is:a. When actual costs are less than standard costs Explanation:A variance is…
Q: Ans
A: The functional currency in multinational operations is an important determination since it reflects…
Q: can you please provide correct answer. @ general account
A: A variance is labeled as favorable when actual costs are lower than the standard or expected costs…
Q: Need answer the financial accounting question
A: Step 1: Define Return on Investment (ROI)Return on Investment (ROI) measures the profitability of an…
Q: What amount should be debited to the trademark account on these general accounting question?
A: Step 1: Define Trademark AccountThe trademark account includes the costs associated with acquiring…
Q: General Accounting
A: Step 1: Define Total AssetsTotal Assets represent the total value of everything a company owns and…
Q: Financial Accounting
A: To calculate the variable cost per unit using the high-low method, follow these steps: 1. Identify…
Solve this general accounting question not use
Step by step
Solved in 2 steps
- Rose Company has a relevant range of production between 10,000 and 25.000 units. The following cost data represents average cost per unit for 15,000 units of production. Using the cost data from Rose Company, answer the following questions: If 10,000 units are produced, what is the variable cost per unit? If 18,000 units are produced, what is the variable cost per unit? If 21,000 units are produced, what are the total variable costs? If 11,000 units are produced, what are the total variable costs? If 19,000 units are produced, what are the total manufacturing overhead costs incurred? If 23,000 units are produced, what are the total manufacturing overhead costs incurred? If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If 25,000 units are produced, what are the per unit manufacturing overhead costs incurred?The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?Please Provide Correct Answer
- Lark would estimate fixed costs as .....? General accountingBruno Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost January 8,015 February 7,510 Miles Driven Total Cost $14,195 March 8,500 $15,000 13,515 April 8,205 14,495 a. Compute the variable cost per mile using the high-low method. b. Compute the fixed cost elements using the high-low method. Arsons company is planning to produce 2,100 units of product in 2017. Each unit requires 1.60 pounds of materials at $6.40 per pound and a half-hour of labor at $16.00 per hour. The overhead rate is 60% of direct labor. A. Compute the budgeted amounts for 2017 for direct materials to be used, direct labor, and applied overhead. B. Compute the standard cost of one unit of production (round answer to 2 decimal places).Ajax uses the high-low method of estimating costs. Ajax had total costs of $50 000 at its lowest level of activity, when 5 000 units were sold. When, at its highest level of activity, sales equalled 12 000 units, total costs were $78 000. Ajax would estimate variable cost per unit as
- The Miramichi Company uses the high-low method to estimate its cost function. The information for the current year is provided below: Highest observation of cost driver Lowest observation of cost driver $12,500 Machine-hours a. O b. $0 O C. $25,000 O d. $125,000 O e. $225,000 2,000 1,000 What is the constant for the estimating cost equation? Costs $225,000 $125,000Cardinal uses the high-low method of estimating costs. Cardinal had total costs of $26,450 at its lowest level of activity, when 7,100 units were sold. When, at its highest level of activity, sales equaled 12,700 units, total costs were $39,890. What would be the estimated variable cost per unit be?Adams, Inc. has the following cost data for Product X, and unit product cost using absorption costing when production is 2,000 units, 2,500 units, and 5,000 units. (Click on the icon to view the cost data.) (Click on the icon to view the unit product cost data.) Product X sells for $175 per unit. Assume no beginning inventories. Read the requirements. Data table Begin by selecting the labels and computing the gross profit for scenario a. and then compute the gross profit for scenario b. and c. Absorption costing a. b. C. Gross Profit Reference 2,000 units 2,500 units 5,000 units 42 $ 42 52 52 11 11 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total unit product cost Print $ $ 42 S 52 11 10 115 $ Done 8 113 $ 4 109 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Print Done $42 per unit 52 per unit 11 per unit 20,000 per year
- Bertha Corporation reports that at an activity level of 4,000 units, its total variable cost is $616,750 and its total fixed cost is $353,286. For the activity level of 4,800 units, i.e., 800 units more, (assuming that this activity level is within the relevant range), compute the total cost at that level. Show your work. Round your answer to the nearest dollar.Connell Co. collects the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost January 10,000 $17,000 February 8,000 $13,500 March 9,000 $14,400 April 7,000 $12,500 Instructions: Compute the variable and fixed cost elements using the high-low method.Abdulwahab Corporation is estimating the cost function for total cost of production of product A using the high-low method. The data collected for the past year is as following: Number of units Total Quarter produced Costs 1 4,000 $ 1,000 2 5,400 1,280 3 7,000 1,600 4 9,000 2,000 Calculate the following amounts: The variable cost per unit The fixed cost Explain the method used by the company to estimate the cost function. Suggest other methods than may be used to estimate cost function.