Need answer The controller of Dang Industries has collected the followingmonthly expense data for use in analyzing the cost behavior ofmaintenance costs. Determine the fixed component using the high-low method.Month Total Maintenance Costs Total Machine HoursJanuary $2,610310February 3,110460March 3,710610April4,610580May3,310510June5,320710

Explanation of Cost Behavior: Cost behavior refers to how costs change in response to changes in…

Answered: The controller of Dang Industries has…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....

See similar textbooks

Similar questions

The controller of the Blade Company wants you to estimate a cost function from the following two observations in a general ledger account called Maintenance: (Click to view the information.) Required 1. Estimate the cost function for maintenance. 2. Can the constant in the cost function be used as an estimate of fixed maintenance cost per month? Explain. Requirement 1. Estimate the cost function for maintenance. (Round your answers to the nearest cent as needed.) Maintenance costs = Maintenance costs = +( +( X X Requirement 2. Can the constant in the cost function be used as an estimate of fixed maintenance cost per month? Explain. the relevant range, not at cost levels the relevant range. If there are no months with zero The cost function in requirement 1 is an estimate of how costs behave machine-hours represented in the maintenance account, data in that account function provides the best available starting point for a straight line that approximates how a cost behaves be used to…
The controller of hall industries has collected the following solve this accounting questions
The controller of Sunland Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month TotalMaintenance Costs TotalMachine Hours January $2,590 330 February 2,890 380 March 3,490 530 April 4,390 660 May 3,090 530 June 5,470 730 Determine the variable cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per machine hour $enter the variable cost per machine hour in dollars rounded to 2 decimal places Determine the fixed cost components using the high-low method. Total fixed costs $enter the total fixed costs in dollars
E19-3 The controller of Furgee Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Total Maintenance Costs Total Machine Hours Month January February March $2,500 3,000 3,600 4,500 3,200 4,900 300 350 500 April May 690 400 June 700 Instructions (a)) Determine the fixed- and variable-cost components using the high-low method. (b) Prepare a graph showing the behavior of maintenance costs, and identify the fixed- and variable-cost elements. Use 100-hour increments and $1,000 cost increments.
The controller of Sandhill Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month January February March April May June Variable cost per machine hour Total Maintenance Costs Determine the variable-cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Determine the fixed cost components using the high-low method. Fixed costs $2,825 3,210 3,852 4,815 3,424 5,476 Total Machine Hours 3,740 4,280 6,420 8,453 5,350 8,560 $ $
s
?
The controller of Sandhill Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month January February March April May June (a1) Total Maintenance Costs $2,880 3,273 3,928 4,632 3,491 4,844 X Your answer is incorrect. Total Machine Hours 3,820 Variable cost per machine hour $ 4,364 6,546 8,619 5,455 8,730 Determine the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places e.g. 2.25.) 1352
Beta manufacturing collected the following data solution general accounting question
The controller of Norton Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month TotalMaintenance Costs TotalMachine Hours January $2,930 350 February 3,230 400 March 3,830 550 April 4,730 640 May 3,430 550 June 5,840 750 Determine the variable cost components using the high-low method. (Round variable cost to 3 decimal places e.g. 12.250.) Variable cost per machine hour $ Determine the fixed cost components using the high-low method. (Round answer to 0 decimal places e.g. 2,520.) Total fixed costs $
The controller of Norton Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Total Maintenance Costs Total Machine Hours Month January $2,710 350 February 3,010 400 March 3,610 550 April 4,510 640 May 3,210 550 June 5,590 750 Determine the variable cost components using the high-low method. (Round variable cost to 3 decimal places e.g. 12.250.) Variable cost per machine hour LINK TO TEXT LINK TO TEXT VIDEO: APPLIED SKILLS Determine the fixed cost components using the high-low method. (Round answer to 0 decimal places e.g. 2,520.) Total fixed costs
The controller of Ivanhoe Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month January February March April May June (a1) Total Maintenance Costs $3,041 3,456 4,147 5,184 3,686 5,633 Total Machine Hours 4,032 Variable cost per machine hour $ 4,608 6,912 9,101 5,760 9,216 Determine the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places e.g. 2.25.)

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS