The following cost information is available: Month Hours Cost January 10 $6,000 February 12 $7,200 March 11 $6,600 April 20 $9,000 May ☐ 6 $7,600 June 12 $7,200 Use the high/low method to estimate both the fixed and variable costs.
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Accounting use the high/low method to estimated both the fixed variable costs
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- Which of the following types of cost is shown in this table of cost data? Cost per Unit $6,000 3,000 2,000 1,500 b. fixed cost Number of Units C. variable cost d. period cost 1 A WN 2 3 4Harbor Images has collected the following cost data for various levels of activity: Images Created Total Cost $5,700 $6,320 $9,210 $5,250 Month 6,000 7,750 8,100 4,500 August September October November a. Using the high-low method, determine the variable cost per image created and the total fixed cost. (Round your variable cost to 2 decimal places.) Variable Cost Per Image Fixed Cost Per Month b. Estimate the total costs when 6,500 images are created. (Do not round your intermediate calculations.) Total CostsConnell Co. collects the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost January 10,000 $17,000 February 8,000 $13,500 March 9,000 $14,400 April 7,000 $12,500 Instructions: Compute the variable and fixed cost elements using the high-low method.
- Use a cost-volume graph to determine the type of cost behavior exhibited in Groups A, B, and C. In the graph, volume should range from 0 to 24,000 units (in 4,000 unit increments), and cost should range from $0 to $35,000 (in $5,000 increments). Volume Group A Group B Group C (applicable to each group) Costs Costs Costs 2,000 12,000 16,000 20,000 $2,600 $1,000 $2,400 12,600 6,000 2,400 16,600 8,000 2,400 20,600 10,000 2,400 1. Identify the cost behavior (fixed, mixed, or variable) in the three groups. Group Cost behavior A B C 2. What is the expected total cost for Group B if volume is 0? $ 3. What is the expected total cost for Group C if volume is 0? CheckGiven the following information, choose the cost and activity that would be used as the high data point in high-low cost estimation: Costs (P) Activity (hours) 48 000 41 500 49 000 42 000 57 000 42 500 56 000 43 000 55 000 43 500 O P57 000 and 43 500 hours O P55 000 and 43 000 hours O P55 000 and 42 500 hours O P55 000 and 43 500 hours O P57 000 and 42 500 hours O P56 000 and 43 500 hoursHardev
- What type of cost exhibits the behavior shown below? Manufacturing Volume (Units) Cost Per Unit 50,000 $1.95 70,000 1.95 Select one: a. Discretionary fixed cost b. Step-fixed cost. c. Semivariable cost.d. Variable cost. e. Fixed costUse a cost-volume graph to determine the type of cost behavior exhibited in Groups A, B, and C. In the graph, volume should range from 0 to 38, 400 units (in 4,000 unit increments), and cost should range from $0 to $49,000 (in $5,000 increments). Volume Group A Group B Group C (applicable to each group) Costs Costs Costs 3,200 $3,640 $1,400 $ 3,360 19,200 17,640 8,400 3,360 25,600 23,240 11,200 3, 360 32,000 28,840 14,000 3,3601. Identify the cost behavior (fixed, mixed, or variable) in the three groups. Group Cost behavior A B C 2. What is the expected total cost for Group B if volume is 0? $Answer 3. What is the expected total cost for Group C if volume is 0?Which of the following types of cost is shown in the cost data below? Cost per Number of Unit Units $6,000 3,000 2,000 1,500 a. fixed cost b. mixed cost C. variable cost d. period cost 2. 3. 4.
- Calculate the variable and fixed costUsing the following data, apply the high-low method of cost analysis to the three cost data groups: Volume Alpha Beta Gamma 2,000 $6,600 $2,400 $8,000 6,000 $9,800 $7,000 $8,000 13,000 $13,000 $12,000 $8,000 20,000 $21,000 $24,000 $8,000 What cost behavior patterns are apparent for Gamma? Select one: a. Fixed b. Variable c. Mixed d. Semi-fixed e. None of the abovesing the following data, apply the high-low method of cost analysis to the three cost data groups: Volume Alpha Beta Gamma 2,000 $6,600 $2,400 $8,000 6,000 $9,800 $7,000 $8,000 13,000 $13,000 $12,000 $8,000 20,000 $21,000 $24,000 $8,000 What cost behavior patterns are apparent for Beta? Select one: a. Fixed b. Variable c. Mixed d. Semi-fixed e. None of the above