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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Felix & Company reports the following information. Period Units Produced Total Costs 1 e $ 4,760 2 660 3 4 5 6 7 8 9 10 1,060 1,460 1,860 2,260 2,660 3,060 3,460 3,860 4,060 4,460 5,060 4,160 4,360 8,860 16,260 5,060 13,252 Exercise 21-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,390 units are produced.

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Felix & Company reports the following information. Period Units Produced Total Costs 1 e $ 4,760 2 660 3 4 5 6 7 8 9 10 1,060 1,460 1,860 2,260 2,660 3,060 3,460 3,860 4,060 4,460 5,060 4,160 4,360 8,860 16,260 5,060 13,252 Exercise 21-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,390 units are produced.

FINANCIAL ACCOUNTING
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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s Required information (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,390 units are produced. High-Low method - Calculation of variable cost per unit Total cost at the highest volume Variable costs at highest volume - Highest volume Variable cost per unit Total variable costs at highest volume Total fixed costs Total cost at the lowest volume Variable costs at lowest volume Lowest volume Variable cost per unit Total variable costs at lowest volume High-Low method - Calculation of fixed costs Total fixed costs (2) Estimated cost if 3,390 units are produced: Estimated total cost
Transcribed Image Text:s Required information (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,390 units are produced. High-Low method - Calculation of variable cost per unit Total cost at the highest volume Variable costs at highest volume - Highest volume Variable cost per unit Total variable costs at highest volume Total fixed costs Total cost at the lowest volume Variable costs at lowest volume Lowest volume Variable cost per unit Total variable costs at lowest volume High-Low method - Calculation of fixed costs Total fixed costs (2) Estimated cost if 3,390 units are produced: Estimated total cost
! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Felix & Company reports the following information. Total Costs $ 4,760 4,060 4,460 5,060 Period Units Produced 1 0 2345 5 6 7 9 10 660 1,060 1,460 1,860 2,260 2,660 3,060 3,460 3,860 4,160 4,360 Total cost at the highest volume 8,860 16,260 5,060 13,252 Exercise 21-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,390 units are produced. High-Low method - Calculation of variable cost per unit High-Low method - Calculation of fixed costs < Prev 4 of 17 Next > 0 Ch
Transcribed Image Text:! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Felix & Company reports the following information. Total Costs $ 4,760 4,060 4,460 5,060 Period Units Produced 1 0 2345 5 6 7 9 10 660 1,060 1,460 1,860 2,260 2,660 3,060 3,460 3,860 4,160 4,360 Total cost at the highest volume 8,860 16,260 5,060 13,252 Exercise 21-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,390 units are produced. High-Low method - Calculation of variable cost per unit High-Low method - Calculation of fixed costs < Prev 4 of 17 Next > 0 Ch
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