The Crater Manufacturing Company recorded overhead costs of $14,192 at an activity level of 4,250 machine hours and $8,760 at 2,310 machine hours. The records also indicated that overhead of $9,735 was incurred at 2,610 machine hours. What is the variable cost per machine hour using the high-low method to estimate the cost equation?

The Crater Manufacturing Company recorded overhead costs of $14,192 at an activity level of 4,250 machine hours and $8,760 at 2,310 machine hours. The records also indicated that overhead of $9,735 was incurred at 2,610 machine hours. What is the variable cost per machine hour using the high-low method to estimate the cost equation?

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

See similar textbooks

Related questions

Q: Peach Company sells a line of toys for $24 each. The variable costs per toy are $7 and the fixed…

A: Give that, fixed cost=$2380 Selling price per unit=$24 Variable cost per unit=$7

Q: The cost of a 20 pound case of haddock fillets has changed to a new As Purchased Cost Per Pound of…

A: The cost of haddock fillets is $4.00 per pound.

Q: The last weekly payroll of Available Temp Services was $39,110.00 for 55 employees. The company pays…

A: Given: Employees= 55 Total payroll cost = $391100 per employee for health insurance=$56.06 % of…

Q: rgins and Within a given distribution channel, the following information is available concerning…

A: Here we calculate retailer's selling price and wholesaler cost.

Q: A particular gym maintains a gross margin of 55% on all its weight training products. In April, the…

Q: If 1,725 feet of Romex cable sell for $286.36, what is the cost of 1,136 feet of this cable?

A: 1,725 feet of Romex Cable Sell for $286.36What is the cost of 1,136 feet of this Cable?

Q: The cost of a rental car for a two-week 1,600–kilometer trip across northern Spain is $378. The cost…

A: If x items cost $y , then using the unitary method, it can be written that 1 item costs $yx.

Q: jane corporation produces model toy cars. each sells for $23.31. its variable cost per unit is…

A: Given that jane corporation produces model toy cars. each sells for $23.31. its variable cost per…

Q: During the pandemic in 2020, Safety First Company plans to sell Masks for $4 a unit. Current…

A: Cost of mask per unit =$4Total fixed cost =$30,000Variable cost per unit =$0.95

Q: a peck of grapes cost $2 each, or 4 pecks for $7. what is the minimum cost for 27 pecks

Q: A company that manufactures electronic items sells them for $150 each. They need to sell 780 items…

A: Calculate the total revenue needed to break even:Since the company needs to sell 780 items to break…

Q: Jack's Trimmers, Inc. produced 400 hand-held lawn trimmers. Total fixed costs were $22,000 and total…

A: Here given, Total Fixed cost=$22,000 Total variable cost=$48,000 Total trimmer produced =400

Q: A manufacturer of ovens sells them for $1,510.00 each. The variable costs are $1,030.00 per unit.…

A: Step 1: Method to Calculate the Net IncomeNet Income can be calculated using Cost-Volume-Profit…

Q: f the cost is $26.75 and the amount of markup is $30 what is the selling price and percent markup…

A: Given:Cost: $26.75Markup: $30

Q: If the loss percent for grapefruit is 47%, the yield percent would be 53%.

A: Yes. Statement is true.

Q: Compare the costs of Spa Treatment A ($203) and Spa Treatment B ($283). Spa Treatment A is…

A: I am going to solve the problem by using some simple algebra to get the required result of the given…

Q: A furniture store has a sale during which the sale price of a sofa is 1/3 off its original price.…

A: Use algebra and percentage formula to evaluate the problem.

Q: The Metropolitan Company sells its latest product at a unit price of $8. Variable costs are…

A: Selling price of the latest product is $8 Fixed cost = $7800 per month Let the number of units sold…

Q: Sacred Heart’s yearbook committee is comparing prices from two different companies to print this…

A: given that Company A: charges $5 000 for set up plus $4 per copy.Company B: charges $14 per copy…

Q: La Quinta is a moderately priced chain of motels in the USA. Its market is frequent business…

A: Please find the explanation below. Thank you. First enter the given data in Excel.

Q: Each item a firm makes costs $9 to manufacture. If the items sell for $21, and the firm's fixed…

Q: Our Price High Medium Low Competitor's Price High PhP400,000 PhP475,000 PhP350,000 Medium PhP250,000…

Question

Multiple Choice

$3.34
$2.80
$2.72
$3.73

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Given data

VIEW

Step 2: Construct simple table to know the maximum and minimum cost

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

Jane Corporation produces model toy cars. Each sells for $27.66. Its variable cost per unit is $15.13. Assuming it has a fixed cost of $350,840. What is the breakeven point for Jane Corporation?
The average price of a certain model of piano in 1995 was $18500. In 2012 the average price of the piano was $25900. What is the percentage increase in the average price of the piano
Acme Plumbing and Heating charges $45 for a service call plus $30 per hour. If the company estimates that a certain job will cost at least $255, how long will the job take?
Martin Company has a current breakeven point of 47,000 units. To reduce the breakeven point, Martin should increase the contribution margin per unit. increase variable costs. reduce the contribution margin per unit. reduce the sales price per unit.
A manufacturer of ovens sells them for $2,200 each. The variable costs are $920 per unit. The manufacturer's factory has annual fixed costs of $2,240,000. a. Given the expected sales volume of 4,700 units for this year, what will be this year's net income? Express the answer with a positive sign for profit or negative sign for loss, rounded to the nearest cent b. How many units must the manufacturer produce to break even if the fixed costs increased by 15.00%? Round up to the next whole number
The local school district plans to build a new school addition for $962,300. According to the local economic development president, 67% of each dollar spent will be “re-spent” in the local community. Based on this prediction, calculate the maximum overall impact of this building project. Round your answer to the nearest $100. Group of answer choices $2,916,100 $995,000 $1,953,800 $2,948,800
The profit, P, on a $2 muffin is 75%. At least 100 muffins must be sold in a day. The expression for the minimum daily profit, P, is Select one: O O a. P> $150 b. P> $100 c. P> $150 d. P = $150
The cost of producing 360 stereo speakers is $2240. Producing 650 stereo speakers would cost $3980. Step 1 of 3: Find the average cost per stereo speaker of the additional 290 stereo speakers over 360. Answer per stereo speaker %24
The rental agency will earn a maximum income of $ when it charges s per day.
Employees in 2012 paid 4.2% of their gross wages towards social security (FICA tax), while employers paid another 6.2%. How much will someone earning $74,000 a year pay towards social security out of their gross wages?$Give your answer accurate to at least the nearest dollar.
A builder of homes reduced the price of a model by 15%. If the new price is $170,000, what was its original price? How much can be saved by purchasingthe model?