Question: total fixed costs? Question:Dina Co. manufactures fine dining tables. Duringthe most productive month of the year, 3,500tables were manufactured at a total cost of$84,400. In its slowest month, the companymade 1,100 tables at a cost of $46,000. Using thehigh-low method of cost estimation, what is thetotal fixed costs in August for Dina?

Explanation of High-Low Method:The high-low method is a cost estimation tool used to identify fixed…

Answered: Question: Dina Co. manufactures fine…

Principles of Accounting Volume 2

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ISBN:9781947172609

Author:OpenStax

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Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 8EA: Using the information in the previous exercises about Marleys Manufacturing, determine the operating...

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SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its total annual overhead costs can be represented by the following formula: Overhead cost = 543,000 + 1.34X, where X equals number of smokers. Last year, SmokeCity produced 20,000 smokers. Actual overhead costs for the year were as expected. Required: 1. What is the driver for the overhead activity? 2. What is the total overhead cost incurred by SmokeCity last year? 3. What is the total fixed overhead cost incurred by SmokeCity last year? 4. What is the total variable overhead cost incurred by SmokeCity last year? 5. What is the overhead cost per unit produced? 6. What is the fixed overhead cost per unit? 7. What is the variable overhead cost per unit? 8. Recalculate Requirements 5, 6, and 7 for the following levels of production: (a) 19,500 units and (b) 21,600 units. (Round your answers to the nearest cent.) Explain this outcome.
Total and Unit Product Cost Martinez Manufacturing Inc. showed the following costs for last month: Last month, 4,000 units were produced and sold. Required: 1. Classify each of the costs as product cost or period cost. 2. What is the total product cost for last month? 3. What is the unit product cost for last month?
Cost Classification Loring Company incurred the following costs last year: Required: 1. Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, 216,000. 2. What was the total product cost for last year? 3. What was the total period cost for last year? 4. If 30,000 units were produced last year, what was the unit product cost?
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The Macon Company uses the high-low method to determine its cost equation. The following information was gathered for the past year: Machine Hours Direct Labor Costs Busiest month (June) 17,500 $ 229,022 Slowest month (December) 10,200 $ 155,000 If Macon expects to use 13,500 machine hours next month, what are the estimated direct labor costs?
Chesapeake Co. manufactures fine dining tables. During the most productive month of the year, 3,500 tables were manufactured at a total cost of $84,400. In its slowest month, the company made 1,100 tables at a cost of $46,000. Using the high- low method of cost estimation, What is the total fixed costs in August for Chesapeake?
The Shapely Company uses the high-low method to determine its cost equation. The following information was gathered for the past year: Busiest month (June) Slowest (December) Machine Direct Labor Hours Costs 14,750 $770,000 month 9,750 $620,000 If Shapely expects to use 12,000 machine hours next month, what are the estimated direct labor costs? A) $687,500 B) $1,008,260 C) $510,000 D) $400,969.
Barkoff Enterprises, which uses the high-low method to analyze cost behavior, has determined that machine hours best explain the company's utilities cost. The company's relevant range of activity varies from a low of 600 machine hours to a high of 1,100 machine hours, with the following data being available for the first six months of the year: Month Utilities Machine Hours January $8,700 800 February 8,360 720 March 8,950 810 April 9,360 920 May 9,625 950 June 9,150 900 The variable utilities cost per machine hour for Barkoff is: Select one: a. $5.00. b. $4.50. c. $0.18 d. $5.50.e. None of the answers is correct.
The Macon Company uses the high-low method to determine its cost equation. The following information was gathered for the past year: Machine Hours Direct Labor Costs Busiest month (June) 14,000 $ 265,000 Slowest month (December) 6,000 $ 129,000 What are the direct labor costs per machine hour?
What is the fixed cost per month? For this accounting question
What is the high low method?

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