Sheffield Manufacturing Company collected the following production data for the past month: Units Total Produced Cost 1600 $70500 1290 62130 1460 73000 1100 55000 If the high-low method is used, what is the monthly total cost equation? O Total cost - $0+ $50/unit O Total cost - $15400 + $36/unit O Total cost - $20900 + $31/unit O Total cost - $25300 + $27/unit

Sheffield Manufacturing Company collected the following production data for the past month: Units Total Produced Cost 1600 $70500 1290 62130 1460 73000 1100 55000 If the high-low method is used, what is the monthly total cost equation? O Total cost - $0+ $50/unit O Total cost - $15400 + $36/unit O Total cost - $20900 + $31/unit O Total cost - $25300 + $27/unit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

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.

Question

Sheffield Manufacturing Company collected the following production data for the past month:
Units
Total
Produced
Cost
1600
$70500
1290
62130
1460
73000
1100
55000
If the high-low method is used, what is the monthly total cost equation?
O Total cost - $0 + $50/unit
O Total cost - $15400 + $36/unit
O Total cost - $20900 + $31/unit
O Total cost -$25300 + $27/unit

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