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 produced? 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

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 produced? 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

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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Sunland Co. gathered the following information on power costs and factory machine usage for the last six months: Month January February March April May June (a) Power Cost $28,390 (b) 36,069 32,895 26,235 (c) 23,890 20,700 Your answer is correct. Variable power costs $ Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. eTextbook and Media Your answer is correct. Factory Machine Hours What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Fixed power costs $ eTextbook and Media 15,800 21,400 Total power cost $ 18,700 High 15,100 13,500 What is the estimated fixed power cost each month? 10,500 1.41 5,895 per factory machine hour Low 5,895 If it is estimated that 13,800 factory machine hours will be run in July, what is the expected total power cost for July?
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The following data have been extracted from the records of Puzzle Incorporated: February August Production level, in units 9,400 20,680 Variable costs $ 22, 560 $ ? question mark Fixed costs ? question mark 39, 300 Mixed costs 19, 612 ? question mark Total costs $81,472 $ 125, 238 Required: Calculate the missing costs. Calculate the cost formula for mixed cost using the high-low method. Calculate the total cost that would be incurred for the production of 15, 040 units. Identify the two key cost behavior assumptions made in the calculation of your answer to part c.
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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 $3,142 15,489 April 2,691 10,041 May 2,810 11,509 4 June 3,881 18,009 a. $0.15 b. $1.05 O c. $1.64 Od. $1.01 10:21 PM 670002 K 63°F
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Deidoro Company has provided the following data for maintenance cost: Machine hours Maintenance cost Multiple Choice Maintenance cost is a mixed cost with variable and fixed components. The fixed and variable components of maintenance cost are closest to: (Round your intermediate calculations to 2 decimal places.) O O Prior Year 17,100 20,100 $ 29,400 $ 34,200 $29,400 per year; $1.701 per machine hour Current Year $2,040 per year; $1.701 per machine hour $2,040 per year; $1.600 per machine hour $29,400 per year; $1.600 per machine hour
Tashiro Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 7,095 $252,840 2,795 162,540 4,350 186,920 a. Determine the variable cost per unit and the total fixed cost. Variable cost (Round to two decimal places.) $fill in the blank 1 per unit Total fixed cost $fill in the blank 2 b. Based on part (a), estimate the total cost for 3,560 units of production. Total cost for 3,560 units: $fill in the blank 3
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