give me answer with calculation Maxwell Manufacturing has collected the following maintenance cost datafor the past 6 months:Month Units Total CostJanuary 25,000||$45,000February 45,000||$75,000March35,000 $60,000April30,000 $52,500May50,000 $82,500June40,000 $67,500Calculate: a) Variable cost per unit using the high-low method (round to 2decimal places) b) Fixed cost using the high-low method

Step 1: Definition of Variable Cost and Fixed Cost (Using High-Low Method)Variable Cost refers to…

Answered: Maxwell Manufacturing has collected the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The controller of Sunland Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month TotalMaintenance Costs TotalMachine Hours January $2,590 330 February 2,890 380 March 3,490 530 April 4,390 660 May 3,090 530 June 5,470 730 Determine the variable cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per machine hour $enter the variable cost per machine hour in dollars rounded to 2 decimal places Determine the fixed cost components using the high-low method. Total fixed costs $enter the total fixed costs in dollars
Buckeye Company has provided the following data for maintenance costs: Prior Year Current Year Machine hours 19,100 22,200 Maintenance cost $30,500 $34,220 Required: The best estimate of the cost formula for maintenance would be: (Do not round intermediate calculations. Round your Variable cost per unit to 2 decimal places.) a) $7,580 per year plus $.833 per machine hour. b) $26,640 per year plus $.833 per machine hour. c) $7,580 per year plus $1.20 per machine hour. d) $30,500 per year plus $1.20 per machine hour.
Markowis Corp. has collected the following data concerning its maintenance costs for the past 6 months.July August September October November DecemberUnits Produced18,000 32,000 36,000 22,000 40,000 38,000Total Cost$36,000 48,000 55,000 38,000 74,500 62,000Compute the variable- and fixed-cost elements using the high-low method.
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The controller of Sheridan Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month Total Maintenance Costs Total Machine Hours January $2,930 350 February 3,230 400 March 3,830 550 April 4,730 640 May 3,430 550 June 5,730 750 Determine the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per machine hour eTextbook and Media Determine the fixed costs using the high-low method for this mixed cost.
Compute the variable cost per unit
Using the high-low method, estimate both the fixed and variable components of its maintenance cost.
The following information is available for a company’s maintenance cost over the last seven months. Month Units Produced Maintenance Cost June 180 $ 10,900 July 360 13,800 August 240 10,200 September 300 12,000 October 420 13,800 November 480 16,200 December 120 7,200 Using the high-low method, the variable component of its maintenance cost is: Multiple Choice $30.00 per unit. $25.00 per unit. $22.50 per unit. $16.11 per unit. $22.00 per unit.
Markowis Corp has collected the following data concerning its maintenance costs for the pest 6 months units produced Total cost July 18,015 36,036 august 37,032 40,048 September 36,036 55,055 October 22,022 38,038 November 40,040 74,575 December 38,038 62,062 Compute the variable coot per unit using the high-low method. (Round variable cost per mile to 2 decimal places e.g. 1.25) Compute the fixed cost elements using the high-low method.
The following information is available for a company's maintenance cost over the last seven months. Maintenance Cost Month Units Produced June July 100 190 August 110 d September 140 October 200 November 230 50 $ 4,550 6,530 4,770 5,430 6,750 7,410 3,450 December Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per unit produced Cost at highest volume - Cost at lowest volume Highest volume Lowest volume Total cost at the highest volume Variable costs at highest volume: Highest volume Variable cost per unit produced Total variable costs at highest volume Total fixed costs Total cost at the lowest volume Variable costs at lowest volume: $ 3,960 $ 7,410.00 230 units $ $ $ 3,450.00 Lowest volume 50 units. Variable cost per unit produced $ Total variable costs at lowest volume Total fixed costs $ Variable cost per unit produced = *Red text indicates no response was expected in a cell or a…
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