Okafor Company manufactures skis. The management accountant wants to calculate the fixed and variable costs associated with the leasing of machinery. Data for the past four months were collected. Month Lease cost Machine hours April $25,200 1,100 May 19,800 840 June 22,800 1,020 July 26,700 1,140 Using the high-low method calculate the fixed cost for the lease cost.

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Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.