The controller of Cullumber Industries has collected the following monthily expense data for analyzing the cost behavior of electricity costs. Total Total Electricity Costs Machine Hours January $1890 270 February 2.970 360 March 3,400 470 April 4,610 685 May 3.220 440 June 4,910 710 July 4,120 645 August 3.880 530 September 5.160 660 October 4,380 620 November 3,240 360 December 6,290 730 (a) Determine the fixed-and variable-cost components using regression analysis (We recommend the use of Excel) (Round fixed cost to 3 decimal places es. 1.252 and variable cost to 5 decimal places eg. 1.25125.) Fixed costs Variable-cost

The controller of Cullumber Industries has collected the following monthily expense data for analyzing the cost behavior of electricity costs. Total Total Electricity Costs Machine Hours January $1890 270 February 2.970 360 March 3,400 470 April 4,610 685 May 3.220 440 June 4,910 710 July 4,120 645 August 3.880 530 September 5.160 660 October 4,380 620 November 3,240 360 December 6,290 730 (a) Determine the fixed-and variable-cost components using regression analysis (We recommend the use of Excel) (Round fixed cost to 3 decimal places es. 1.252 and variable cost to 5 decimal places eg. 1.25125.) Fixed costs Variable-cost

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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Zachary Company's cost and production data for two recent months included the following: Production (units) Rent Utilities March 900 $1,200 $ 800 April 1,100 $1,200 $ 978 Required a. Separately calculate the rental cost per unit and the utilities cost per unit for both March and April. b. Identify which cost is variable and which is fixed.
The CW16427 company uses direct labor-hours as its activity measure for overhead cost. Shown below are direct labor-hours and total overhead costs for the first half of the year: Overhead Direct labor-Hours Cost Jan 150,000 140,000 160,000 120,000 170,000 200,000 $339,000 $328,000 $350,000 $296,000 $362,500 $400,000 Feb Mar Apr May Jun Assume that the relevant range includes all of the activity levels for the CW16427 company given in this problem. If CW16427 expects to incur 192,000 direct labor hours next month, what will the estimated total overhead cost be using the high-low method? (Round your intermediate calculations to 2 decimal places.) Multiple Choice $390,800 MAR otv 57 17,650 14
Tractor Company needs to prepare pro forma financial statements for the next fiscal year. To do so, the company must forecast its total overhead cost. The actual machine hours and total overhead cost are presented below for the past six months. Machine Hours 1,990 2,100 1,750 1,600 1,870 2,020 Using the high-low method, unit variable overhead cost is calculated to be: Month January February March April May June Multiple Choice O O O $2.08 $1.78 $1.98 $1.68 Total Overhead $ 6,320 $1.88 6,580 6,020 5,590 6,060 6,370
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Vinubhai
The following data are available for MR SANJO Corp. during the past months:
5. Calculate the direct material from the following information: Direct expenses RO 90,000, Direct labor RO 20,000, manufacturing overheads RO 30,000 and prime cost RO 170,000. a.RO 21,000 b.RO18,000 c.RO 60,000 d.RO 20,000 6. Which of the following are used for calculating economic order frequency? i. Total annual consumption ii. No of order per year iii. Buying cost per order iv. 365 days a.i and ii b.ii and iv c.iii and iv d.i and iv
Jake’s Roof Repair has provided the following data concerning its costs: Fixed Costper Month Cost perRepair-Hour Wages and salaries $ 20,900 $ 15.00 Parts and supplies $ 7.60 Equipment depreciation $ 2,730 $ 0.55 Truck operating expenses $ 5,750 $ 1.60 Rent $ 4,650 Administrative expenses $ 3,870 $ 0.70 For example, wages and salaries should be $20,900 plus $15.00 per repair-hour. The company expected to work 2,900 repair-hours in May, but actually worked 2,800 repair-hours. The company expects its sales to be $48.00 per repair-hour. Required: Compute the company’s activity variances for May.
Jake's Roof Repair has provided the following data concerning its costs: Cost per Repair-Hour Fixed Cost per Month $ Wages and salaries Parts and supplies Equipment depreciation $ Truck operating expenses $ Rent $ Administrative expenses $ 21,100 2,750 5,780 4,660 3,840 $ 16.00 $ 7.20 $ 0.55 $ 1.70 $ 0.40 For example, wages and salaries should be $21,100 plus $16.00 per repair-hour. The company expected to work 2,600 repair-hours in May, but actually worked 2,500 repair-hours. The company expects its sales to be $48.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Need to make sure my notes coincide with this example problem from video. please include how you calculated each part. Thank you
Tenta Inks Company has compiled the following data for the last five months of operations: Month Labor Hours Cost of Sales August 160 ₱ 617 September 130 ₱553 October 180 ₱596 November 190 ₱725 December 110 532 Applying the HIGH-LOW METHOD, derive the cost equation. _____________________.
17. The following information is available for electricity costs for the last six months of the year: Month Volume Costs July 2,800 4.400 August 5,600 10,800 September 6,400 11,400 October 3.500 7,800 November 2,400 4,800 December 4,200 8,100 Using the high-low method, what is the fixed costs?
Dd.102.