Morgan Company's maintenance costs and production are given below. Use the high-low method to calculate their monthly fixed costs for maintenance. Month Cost Units Produced September $136,600 25,000 October 181,100 35,000 November 151,100 28,000
Q: Need answer correct
A: STEP 1 STEP 2 STEP 3
Q: None
A: Physical Inventory Count:Reported physical inventory as of December 31, 2024, is $453,000.Errors…
Q: The unadjusted trial balance as of December 31, 2024, for the Bags Consulting Company appears below.…
A: Step 1: Calculate the depreciation on the Building as follows:Depreciation = (Cost of…
Q: Please provide correct answer general accounting
A: Step 1: Define Inventory ValuationAs per US GAAP, the inventory is measured at lower of cost or…
Q: I need answer of this question solution general accounting
A: Step 1: Define Economic Order Quantity (EOQ)The optimal quantity a business should acquire to reduce…
Q: A machine costing $ 350,000 has a salvage value accounting questions
A: Step 1:Computation of the depreciable cost: Depreciable cost = Cost of the machine - Salvage value =…
Q: Want Correct Answer
A: Explanation of Material Cost: Material cost represents the direct cost of raw materials used in…
Q: I need answer of this question solution general accounting
A: Step 1: Define ExpensesExpenses are costs that are incurred during a financial period. Only expenses…
Q: A driver started a business please rihgt answer
A: Step 1: Total License Cost = $6-month Expense=666.67×6=4,0006,000 Step 2: Useful Life = 24 months (2…
Q: Please given answer accounting question
A: Step 1: Define Factory OverheadIt is the cost which is incurred during the year for the…
Q: I need correct answer accounting question
A: Step 1: Define Average Collection Period (ACP)ACP is a financial indicator called the average…
Q: The haskin company manufacturers accounting questions solution
A: Step 1: Define Cost-Volume-Profit AnalysisThe examination of variation between costs of production…
Q: Methodist medical center solution this accounting questions
A: Step 1: Define Operating LeverageThe analyst in the investment firms and financial institutions are…
Q: some expert check this details and give answer short
A: Identify Key Values:Beginning Inventory = $190,000Net Purchases = $4,000,000Net Sales =…
Q: How do contingent assets differ from provisions? a) Recognition timing remains the same b) Both…
A: Explanation of Contingent Assets: These are possible assets that arise from past events and whose…
Q: Need help with this question solution general accounting
A: Step 1: Define Material Quantity VarianceMaterial quantity variance occurs when there is a…
Q: Choose the right answer
A: Explanation of Repairs Expense:Repairs expense refers to costs incurred to maintain an asset in its…
Q: Need help with this general accounting question please solve
A: Step 1: Define Net SalesNet sales are gross sales after adjusting for sales returns and allowances…
Q: Find the missing units
A: Explanation of Beginning Inventory: Beginning inventory refers to the amount of stock or goods that…
Q: Provide Solution
A: Explanation of Cost of Common Equity: Cost of common equity represents the return that a company…
Q: Rayco uses the straight line method.assets purchased between
A: Step 1: Define FurnitureFurniture, defined as goods purchased to furnish the office, like bookcases,…
Q: A manufacturing company that produces a single product has provided solution this question
A: Step 1: Define Absorption CostingUnder absorption costing, the costing of the products is the same…
Q: Please give me answer accounting questions
A: Step 1: Define Inventory CostThe cost associated with holding, moving, and maintaining inventory is…
Q: Williams and DiMaggio, architects, have been using a simplified costing system in which all…
A: Step 1:1. The job cost sheet using the simplified costing system is prepared as follows: Mays…
Q: How do perpetual inventory systems revolutionize stock control? a) Continuous tracking enables…
A: How Do Perpetual Inventory Systems Revolutionize Stock Control?Question A: Continuous Tracking…
Q: General accounting Question 4 points
A: Explanation of Depreciation: Depreciation is the systematic allocation of an asset's cost over its…
Q: Need help with this question solution general accounting
A: Step 1: Define Equivalent Units in Process CostingIn process costing, the equivalent units refer to…
Q: Birk camera shop uses the lower of cost or market solution this question
A: Step 1: Define Inventory ValuationTo apply the conservatism principle in accounting, inventory is…
Q: General Accounting Question please answer
A: Step 1: Define Income Tax PayableIncome tax payable is recorded in a current liability account…
Q: Need help with this question solution general accounting
A: Step 1: Define Debt RatioThe debt ratio is the ratio of total debt relative to the total assets. The…
Q: Hatfield corporation wich has only one product solution this question
A: To determine the total period cost under the variable costing method for Hatfield Corporation, we…
Q: I want to correct answer accounting
A: Step 1: Define Profitability IndexIn the context of finance, there are various capital budgeting…
Q: does microeconomic or macroeconomic activity have a bigger impact on prices in your opinion and why?
A: Hope this helps
Q: 8 marks financial accounting
A: Explanation of Sales:Sales refer to the total revenue generated by selling goods or services over a…
Q: June earns 18 an solve the accounting question
A: Step 1: Introduction to payroll taxesPayroll taxes refer to those taxes paid by both employer and…
Q: Please given answer accounting question
A: Step 1: Define Material VarianceThe difference between the actual and budgeted material costs is…
Q: A company had sales of $ 154000 and cost of good solution this question
A: Step 1: Define Gross ProfitIn the preparation of the income statement of a firm, two types of…
Q: Hello tutor answer the general accounting question not use ai
A: Step 1: Define Accumulated DepreciationIn accounting, a contra-asset account has a credit balance,…
Q: FINANCIAL ACCOUNTING II
A:
Q: Q. Modern digital accounting
A: Explanation of Documentary Evidence: Documentary evidence in accounting refers to the physical or…
Q: Cullumber lakes park
A: Step 1: Define Income StatementAs one of the year-end financial reports, the income statement shows…
Q: Please provide solution this general accounting question
A: Step 1: Define CVP AnalysisCost-Volume-Profit analysis is a way of looking at how estimated costs…
Q: Don't use ai or chat gtp
A: To calculate the total interest due, we use the formula for interest:Interest=Principal×Rate×(Time…
Q: Woodward corporation reported a pretax book income solve this question
A: Step 1: Define Current Income Tax ExpenseThe current income tax expense and the deferred income tax…
Q: Need answer the accounting question not use ai
A: Explanation: In the given case, we are required to calculate predetermined overhead rate based on…
Q: The following data relates to Bands Are Us. Inc. for the 31, 2015: Ending inventory at cost $ 54,000…
A: Adjusted COGS for Bands Are Us Inc.The problem states:Ending inventory at cost: $54,000Ending…
Q: ?? Financial accounting
A: Explanation of Days Sales Outstanding (DSO): Days Sales Outstanding is a financial metric that…
Q: I want to correct answer general accounting
A: Step 1: Breakdown of Franchise FeeStep 2: Calculate Present Value of Future PaymentsStep 3:…
Q: Hanley carwash
A: Step 1: Define Profit Volume ratioThe profit volume (P/V) ratio shows the amount of profit or…
Q: Show answer with steps
A: Explanation of Inventory Count: This is the physical verification of stock on hand at a specific…
Morgan Company's maintenance costs and production are given below. Please give correct answer for these general accounting question
Step by step
Solved in 2 steps with 2 images
- Subject: accountingGiven the following cost and activity observations for Johnson Company's utilities, use the high-low method to calculate Johnson's fixed costs per month. Cost Machine Hours January $52,600 20,000 February 75,100 29,000 March 57,000 22,000 April 64,000 24,500Buckeye 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.
- 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 dollarsGiven the following cost and activity observations for Smithson Company's utilities, use the high-low method to determine Smithson's fixed costs per month. Do not round your intermediate calculations. Cost Machine Hours January $52,200 February 75,000 March 57,000 April 64,000 a. $2,530 Ob. $1,533 c. $22,800 Od. $50,600 20,000 29,000 22,000 24,500ake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month Cost per Repair-Hour $ 21,300 $ 16.00 $ 7.00 $ 0.50 $ 1.50 Wages and salaries Parts and supplies Equipment depreciation $ 2,770 Truck operating expenses $5,780 $ 4,630 Administrative expenses $3,820 $ 0.80 For example, wages and salaries should be $21,300 plus $16.00 per repair-hour. The company expected to work 2,900 repair-hours in May, but actually worked 2,800 repair-hours. The company expects its sales to be $46.00 per repair-hour. Required: Compute the company's activity variances for May. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Rent
- Jake’s Roof Repair has provided the following data concerning its costs: Fixed Costper Month Cost perRepair-Hour Wages and salaries $ 21,200 $ 15.00 Parts and supplies $ 7.20 Equipment depreciation $ 2,740 $ 0.45 Truck operating expenses $ 5,710 $ 1.80 Rent $ 4,640 Administrative expenses $ 3,890 $ 0.60 For example, wages and salaries should be $21,200 plus $15.00 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,700 repair-hours. The company expects its sales to be $51.00 per repair-hour. Required: Compute the company’s activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)2. Tech Company has the following data for its maintenance costs: month Total Maintenance Costs Total Machine Hours January $2900 300 February 3000 400 March 3600 600 April 4300 790 May 3200 500 June 4500 800 Determine the fixed and variable cost using the high low method!The controller of Blossom Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs: Total Total Month Maintenance Costs Machine Hours January $2,750 2,850 February 3,150 4,400 March 4,000 6.250 April 4,520 8,250 May 3,320 5.000 June 5,693 8,300 (a1) Determine the variable-cost component using the high-low method. (Round answer to 2 decimal places e.g. 12.25.)
- The controller of Norton Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month TotalMaintenance Costs TotalMachine Hours January $2,930 350 February 3,230 400 March 3,830 550 April 4,730 640 May 3,430 550 June 5,840 750 Determine the variable cost components using the high-low method. (Round variable cost to 3 decimal places e.g. 12.250.) Variable cost per machine hour $ Determine the fixed cost components using the high-low method. (Round answer to 0 decimal places e.g. 2,520.) Total fixed costs $Jake's Roof Repair has provided the following data concerning its costs: Cost per Repair-Hour Fixed Cost per Month $ Wages and salaries Parts and supplies Equipment depreciation $ Truck operating expenses $ Rent $ Administrative expenses $ 21,100 2,750 5,780 4,660 3,840 $ 16.00 $ 7.20 $ 0.55 $ 1.70 $ 0.40 For example, wages and salaries should be $21,100 plus $16.00 per repair-hour. The company expected to work 2,600 repair-hours in May, but actually worked 2,500 repair-hours. The company expects its sales to be $48.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Need to make sure my notes coincide with this example problem from video. please include how you calculated each part. Thank youJake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month Cost per Repair-Hour $ Wages and salaries Parts and supplies Equipment depreciation $ Truck operating expenses $ $ Administrative expenses $ Rent 21,200 2,770 5,760 4,680 3,840 $ 15.00 $ 7.80 $ 0.55 $ 1.50 $ 0.70 For example, wages and salaries should be $21,200 plus $15.00 per repair-hour. The company expected to work 2,500 repair-hours in May, but actually worked 2,400 repair-hours. The company expects its sales to be $50.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)