Lumen Products, which uses the high-low method, had total costs of $32,000 at its lowest level of activity when 6,000 units were sold. At its highest level of activity, total costs were $50,000 when 11,000 units were sold. Lumen would estimate fixed costs as _.
Q: Financial accounting
A: Step 1: Define Gross Profit Margin PercentageThe Gross Profit Margin Percentage measures the…
Q: ??
A: To calculate the Price-to-Earnings (P/E) ratio, we use the formula: P/E=Market Price per…
Q: Do you help me with accounting questions
A: Step 1: Definition of Net Realizable Value (NRV) of Accounts ReceivableNet Realizable Value (NRV) of…
Q: Company X sets price equal to cost plus 60%. Recently , Company X charged a customer a price of $42…
A: To find the cost, we'll use the following formula:Selling Price = Cost + (Cost x Markup…
Q: need help to solove it
A: The Cash Budget is as follows:In January, there is Preliminary Cash Balance of $94,600 out of which…
Q: Please give me true answer this financial accounting question
A: Step 1: Definition of Net IncomeNet Income is the profit earned by a company during a specific…
Q: Can you help me with accounting questions
A: Step 1: Meaning of Net Working CapitalNet Working Capital is the difference between a company's…
Q: Manufacturing costs incurred during the financial year
A: Step 1: Information givenBeginning Work in Process Inventory (January 1, 2022): $72,000Ending Work…
Q: do fast answer of this question general accounting question
A: Step 1: Information givenEnding Retained Earnings = $215.3 millionBeginning Retained Earnings =…
Q: The manufacturing overhead cost for the current year will be
A: Step 1: Definition of Predetermined Overhead RateThe Predetermined Overhead Rate (POHR) is an…
Q: General accounting
A: Loan M Effective Annual Rate = (1+Interest Rate/No. of periods)^No. of peiods-1Loan M Effective…
Q: Please answer the following requirements on these financial accounting question
A: Step 1: Definition of Stockholders' EquityStockholders' Equity is the residual interest in the…
Q: i need question answer general accounting question
A: Step 1: Define Gross Margin RatioGross Margin Ratio is a financial metric used to measure the…
Q: Get correct answer with general accounting
A: Step 1: Definition of Freight-InFreight-In is the cost incurred to transport goods to a business…
Q: Horizon Technologies has sales of $8,000, total assets of $6,500, and a profit margin of 8 percent.…
A: To find the Return on Equity (ROE), we use the formula: ROE=Net Income/Equity Step 1: Calculate Net…
Q: General accounting question
A: Step 1: Define Net IncomeNet Income represents the company's total profit, calculated as Sales…
Q: Evergreen Co. earns a profit of $60,000, with fixed costs of $180,000 and sales revenue of $950,000.…
A: To find the operating leverage, we use the formula: Operating Leverage=Contribution Margin/Net…
Q: What is the maximum path?
A: Given information:Graph showing the connection between school and park along with the capacity for…
Q: Accounting?
A: Step 1: Definition of Work-in-Process (WIP) CostWork-in-Process (WIP) cost refers to the cost of…
Q: Solve this question accounting
A: Step 1: Definition of Fixed-Asset Turnover RatioThe Fixed-Asset Turnover Ratio measures how…
Q: Choose correct option
A: Approach to solving the question:According to accounting regulations such as Generally Accepted…
Q: Bright Tech Industries provided the following figures: • Direct lab or: $190,000 • Direct materials…
A: Step 1: Definition of Total Manufacturing CostsTotal Manufacturing Costs represent the complete cost…
Q: A company has a total cost of $50.00 per unit at a volume of 100,000 units. The variable cost per…
A: We can determine the price per unit using the following steps: Step 1: Calculate the Total Fixed…
Q: When recording an adjusting entry for accrued expenses, which accounts are affected?a) Assets…
A: The correct answer is:b) Expenses increase, Liabilities increaseExplanation:Accrued expenses are…
Q: Solve this question accounting
A: To calculate the amount of profit the retailer should recognize in the second year using the…
Q: Based on the screenshot, what is the maximim flow?
A: The problem is asking for the maximum flow of vehicles that can move through the city streets in an…
Q: Financial Accounting
A: Step 1: Define Definition of Retained EarningsRetained Earnings refer to the portion of net income…
Q: Need help with this question solution general accounting
A: Step 1: Analysis of information givenBeginning Cash Balance (at March 1, 2023) = $78,000Cash…
Q: Step by step solution
A: Explanation of Land as a Non-Depreciable Asset: Land represents a unique category in accounting as…
Q: The magnitude of operating leverage for Roshan Enterprises is 3.2 when sales are $200,000 and net…
A: The magnitude of operating leverage (DOL) measures the sensitivity of net income to changes in…
Q: General accounting
A: To determine the annual growth rate of the company, we can use the Sustainable Growth Rate (SGR)…
Q: 2 points
A: Provided Data:Profit Margin = 2.7% = 0.027Return on Assets (ROA) = 4.3% = 0.043 Step 1:…
Q: RK Co. sells snowboards. Each snowboard requires direct materials for $140, direct labor for $55,…
A: Step 1: DefinitionsConcept of Total Cost per Unit:Total cost per unit includes all costs involved in…
Q: I need correct answer general accounting question
A: Step 1: Define Manufacturing Overhead RateManufacturing Overhead Rate: This rate is used to apply…
Q: 4. ABG produces and sells a single product at the price of 20 euros. During its first year of…
A: Step 1: Understanding Costing MethodsWe will calculate the operating result using both Absorption…
Q: Step by step answer
A: Explanation of Unconditional Return Policy: An unconditional return policy is a customer-friendly…
Q: What will the net proceeds from selling the assets be ?
A: To determine the net proceeds from selling the asset, follow these steps: Given data:Market value…
Q: Please given step by step explanation for general accounting question
A: Step 1: Define Return on StockReturn on stock is the total gain earned from an investment,…
Q: ??
A: Step 1: DefinitionExplanation of CVP Income Statement:A CVP (Cost-Volume-Profit) income statement is…
Q: kindly help me with this General accounting question
A: Step 1: Define Interest Expense (Mortgage Payment)The Interest Expense portion of a mortgage payment…
Q: I want answer with all working format
A: Concept of Accounts Receivable:Accounts receivable represents the outstanding amount owed to a…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Cash CollectionsCash Collections refer to the amount of cash received by a…
Q: What is the effective annual cost of not taking the discount for this financial accounting question?
A: Step 1: Define Effective Annual Cost Effective Annual Cost The effective annual cost represents the…
Q: Can you please solve this financial accounting issue without use Ai and chatgpt?
A: Step 1: Definition of Finished Goods InventoryFinished Goods Inventory refers to the completed…
Q: Give me answer to this accounting question
A: Average collection period = (Average accounts receivable / Net credit sales) x 365 daysAverage…
Q: Solve this accounting questions properly without use of ai
A: The cost of goods sold (COGS) is calculated by adding the beginning inventory and purchases, then…
Q: Which financial statement shows the inflows and outflows of cash during a specific period?a) Balance…
A: The correct answer is:a) Generally Accepted Accounting PrinciplesExplanation:GAAP (Generally…
Q: What was the cost of the item to company X?
A: To find the cost of the item to Company X, we can set up an equation.Let C represent the cost of the…
Q: In August, Evergreen Hospitality Group incurred $75,000 of food service costs and served 15,000…
A: Explanation of Variable Cost: Variable cost represents the portion of total expenses that changes in…
Q: What is the total variable overhead variance of this general accounting question?
A: Step 1: Define Total Variable Overhead VarianceTotal Variable Overhead Variance is the difference…
Lumen Products, which uses the high-low method, had total costs of $32,000 at its lowest level of activity when 6,000 units were sold. At its highest level of activity, total costs were $50,000 when 11,000 units were sold. Lumen would estimate fixed costs as _.
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?Lark would estimate fixed costs as .....?Cardinal 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?
- 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 equaled 12 000 units, total costs were $78 000. Ajax would estimate fixed costs as: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 asunits?
- Anderson Inc. has decided to use the high-low method to estimate total costs and determine the fixed and variable cost components. The data for various levels of production are as follows: When 6,500 units were produced, the total cost was $420,000. When 2,500 units were produced, the total cost was $250,000. (a) Determine the variable cost per unit and the total fixed cost. Variable cost per unit: Total fixed cost: (b) Estimate the total cost for producing 3,200 units. Total cost for 3,200 units:Need helpAbdulwahab 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.