The controller of Carla Vista Industries has collected the following monthly cost data for use in analyzing the behavior of maintenancecosts.MonthTotalMaintenance CostsTotalMachine HoursJanuary$2,830300February3,130350March3,730500April4,630690May3.330500June6,030700(a1)Your answer is correct.Determine the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places e.g. 2.25.)Variable cost per machine hour$8(a2)eTextbook and MediaDetermine the fixed costs using the high-low method for this mixed cost.Total fixed costs$Attempts: 1 of 10 used

Step 1: In the high-low method, Variable cost per unit is calculated by dividing the difference in…

Answered: The controller of Carla Vista…

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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The controller of Hall Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month TotalMaintenance Costs TotalMachine Hours January $2,817 3,734 February 3,201 4,268 March 3,841 6,402 April 4,801 8,429 May 3,414 5,335 June 4,930 8,536 Determine the variable-cost components using the high-low method. (Round variable cost to 2 decimal places e.g. 12.25.) Variable cost per machine hour $ eTextbook and Media Determine the fixed cost components using the high-low method. (Round answer to 0 decimal places e.g. 2,520.) Fixed costs $
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A cement manufacturer has supplied the following data: Tons of cement produced and sold Sales revenue Variable manufacturing expense Fixed manufacturing expense Variable selling and administrative expense Fixed selling and administrative expense Net operating income What is the company's unit contribution margin? (Round your intermediate calculations to 2 decimal places.) Multiple Choice $2.00 per unit $0.32 per unit O $4.30 per unit 235,000 $1,010,500 $ 416,000 $ 275,000 $ 54,000 $ 215,000 $ 50,500 $2.30 per unit
The following data are from the accounting records of Niles Castings for year 2 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Required A Required B 89,000 Complete this question by entering your answers in the tabs below. Prepare a gross margin income statement. $280,000 64,000 40,000 18,000 43,000 11,500 32,000
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Voltar has collected the following data for recent months Month Miles Driven Total Cost March 41,00O 30,690 April 43,600 44,234 May 35,500 37,000 June 42,400 31,593 Required: a) Using the high-low method, find variable cost per unit, total fixed cost, and total cost equation? b) What is the estimated cost for a month in which 38,000 miles are driven
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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
Identifying the Parts of the Cost Formula; Calculating Monthly, Quarterly, and Yearly Costs Using a Cost Formula Based on Monthly Data Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $150,000+ ($52 x Direct Labor Hours) Required: 1. Select the term in the right column that corresponds to the term in the left column. Overhead cost $150,000 $52 Direct labor hours

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