Pints ofApplesauceProduced35,40021,40022,40024,400[1]30,40032,40040,40030,40030,40028,400MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberRequired 1 Required 241,40039,400Energy CostTotal energy cost =$ 23,800$22,50022,40022,85023,30023,75028,40023, 20023,400Required:1. Use the high-low method to estimate the company's energy cost behavior and express it in equation form. Use the formula Y= a +bX, where y denotes energy cost for a month and X denotes pints of applesauce produced.2. Predict the energy cost for a month in which 30,000 pints of applesauce are produced.23,10024,50025,350Complete this question by entering your answers in the tabs below.X Answer is complete but not entirely correct.Use the high-low method to estimate the company's energy cost behavior and express it in equation form. Use the formula Y =a + bx, where Y denotes energy cost for a month and X denotes pints of applesauce produced.Note: Round coefficient of X to 2 decimal places.25,560 + $0.10 X

Variable cost is cost which varies with units of production while fixed cost is cost which remains…

Answered: Month January February March April May…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Culver World provided the following data concerning its costs of operating and the number of riders of its Scream ride and the related linear regression for selected operation months: Riders Operating costs January $2.40 $1.84 $1.94 O $2.05 2900 $8640 February March April 2800 $8510 2300 2210 May 2500 $7490 $6984 $7910 Using the high-low method, what is the unit variable cost for the Scream ride? June 2700 $8580
Given the following information for a product: Direct labor hours: 0.25 hour/unit Direct labor costs: $20/hour Direct materials cost: S5/unit Overhead costs: 110% of direct labor Packaging and shipping: $2/unit Desired profit margin: 2096 of the total cost Suppose that a market survey has shown that the best competitor's selling price for the product is $19.50 per unit. After conducting a value engineering study, It was found that the material cost is high and another equal and less expensive material can be used to achieve the required target cost. What should the material cost per unit be to achieve the required target cost for the product?
Help me
The following income statement applies to Franklin Company for the current year: Income Statement Sales revenue (410 units × $31) Variable cost (410 units × $16) Contribution margin Fixed cost Net income Required a. Use the contribution margin approach to calculate the magnitude of operating leverage. b. Use the operating leverage measure computed in Requirement a to determine the amount of net income that Franklin Company will earn If It experiences a 10 percent increase in revenue. The sales price per unit is not affected. c-1. Verify your answer to Requirement b by constructing an income statement based on a 10 percent increase in sales revenue. The sales price is not affected. c-2. Calculate the percentage change in net income for the two income statements. Req A and B Complete this question by entering your answers in the tabs below. Req C1 a. Operating leverage b. Net income $ $12,710 (6,560) 6,150 (4,100) $2,050 > Answer is complete but not entirely correct. Req C2 a. Use the…
Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's variable utilities cost per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,091 14,781 April 2,676 9,929 May 2,812 11,845 June 3,520 17,889 a.$0.49 b.$0.53 c.$0.11 d.$1.17
Please do not give solution in image format ?.
8 ok Royal Enterprises has collected the following cost data for various levels of activity: Month June July August Required: a. Using the high-low method, calculate the variable cost per unit and the total fixed cost per month. Note: Round variable cost to 2 decimal places. b. What would the total cost be for a month with 5,350 units duced? Note: Do not round your intermediate calculations. a. Fixed Cost a. Variable Cost b. Total Costs Units Total Cost per Unit 3,450 5,850 7,050 $ 12.10 8.10 7.30 per month per unit
Develop an equation for total monthly production costs. Total Monthly Production costs = Fixed Costs + Variable Costs = _____________ + ($ per unit X Number of units) Predict total costs for a monthly production volume of 9,000 units.
[The following information applies to the questions displayed below.] Alden Company's monthly data for the past year follow. Management wants to use these data to predict future variable and fixed costs. Month Units Sold Total Cost Month Units Sold Total Cost 1 324,500 $ 162,000 7 355,500 $ 245,564 2 169,500 105,750 8 274,500 156,250 3 269,500 210,100 9 75,100 60,500 4 209,500 104,500 10 154,500 135,125 5 294,500 206,000 11 6 194,500 116,500 12 98,500 104,500 98,500 77,150 Problem 18-1A (Algo) Part 1 1. Estimate both the variable costs per unit and the total monthly fixed costs using the high-low method. (Do not round intermediate calculations.) High-Low method - Calculation of variable cost per unit Total cost at the high point Variable costs at the high point: Volume at the high point: Variable cost per unit Total variable costs at the high point Total fixed costs High-Low method - Calculation of fixed costs Total cost at the low point Variable costs at the low point: Volume at the…
A company manufactures and sells one product. It plans to sell 25,000 units for the period. The selling price per unit is $10 and its variable cost per unit is $4.80. The total fixed costs for the period is $104,000. Calculate the contribution margin per unit. Calculate the contribution margin ratio. Calculate the break-even quantity (units Calculate the break-even total revenues
Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's variable utilities cost per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,093 14,645 April 2,668 10,463 May 2,846 11,922 June 3,779 18,072 a.$0.15 b.$0.98 c.$1.61 d.$1.02
ABC Company sells a product for $100 per unit. Variable costs are $60 per unit, and fixed costs are $3,000 per month. The company expects to sell $600 units in September using the contribution margin format. In the income statement for September using the Contribution Margin Format, the Contribution Margin is and the Operating Income is_ O $20,000 and $22,000 O $22,000 and $19,000 O $24,000 and $21,000 O $23,000 and $20,000 O $21,000 and $18,000

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS