Need help The following data pertain to activity and utility costs for tworecent years:Year 2Year 1Activity Level in Units 10,000 6,000Utilities Cost$12,000 $9,000Using the high-low method, what is the cost formula for utilities?

Step 1: Define High-Low MethodThe High-Low method is used to separate variable and fixed costs from…

Answered: The following data pertain to activity…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 3EA: Burnham Industries incurs these costs for the month: A. What Is the prime cost? B. What is the...

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The following data pertain to activity and utilities costs for two recent years: Activity Level in Units Utilities Cost Multiple Choice 5075 per unit $1.50 per unit Using the high-low method, what is the variable cost per unit for utilities? $125 per unit Year 2 $133 per unit 12,000 $15,000 Year 1 8,000 $12,000
1. The following data pertains to activity and utility cost for two recent periods:Activity level (units) 8,000 5,000Utility cost $8,000 $6,500Utility cost is a mixed cost with both fixed and variable components. Using the high-lowmethod, the cost formula for utility cost is:A. Y = $1.00 XB. Y = $1.25 XC. Y = $4,000 + $0.50 XD. Y = $1,500 + $1.25 X
1. (Give workings for your answer) The following data pertains to activity and utility cost for two recent periods: Activity level (units) 8,000 5,000 Utility cost $8,000 $6,500 Utility cost is a mixed cost with both fixed and variable components. Using the high-lowmethod, the cost formula for utility cost is:A. Y = $1.00 XB. Y = $1.25 XC. Y = $4,000 + $0.50 XD. Y = $1,500 + $1.25 X
Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's variable utilities cost per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,002 15,174 April 2,664 9,624 May 2,823 12,276 June 3,621 17,777 a.$1.17 b.$0.70 c.$0.66 d.$0.12
Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's variable utilities cost per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,142 15,489 April 2,691 10,041 May 2,810 11,509 4 June 3,881 18,009 a. $0.15 b. $1.05 O c. $1.64 Od. $1.01 10:21 PM 670002 K 63°F
Given the following cost and activity observations for Leno Enterprises'utilities, use the high-low method to calculate Leno's variable utilities cost permachine hour. Cost Machine HoursSeptember £4,100 22,000October £3,700 18,000November £3,900 19,000December £4,500 28,000a) £0.08b) £4.86c) £0.25d) £12.50
Given the following cost and activity observations for George Company’s utilities, use the high-low method to determine George’s variable utilities cost per machine hour. Cost Machine Hours May $16,500 105,000 June 18,000 120,000 July 16,000 100,000 August 17,500 117,000 a. $10.00 b. $0.10 c. $100.00 d. $1.00
Given the following cost and activity observations for Bounty Company’s utilities, use the high-low method to determine Bounty’s variable utilities cost per machine hour. Round to the nearest cent. Cost Machine Hours March $3,139 14,709 April 2,650 9,989 May 2,817 12,342 June 3,656 17,720 a. $0.74 b. $0.13 c. $1.43 d. $0.78
Solve for the cost line equation using the high-low method: \table[[Month, Units Produced,Total Cost], [1,4,500,$ 38,000
Assume that a company provided the following cost formulas for three of its expenses (where qrefers to the number of hours worked): Rent (fixed) Supplies (variable) Utilities (mixed) $ 3,000 $ 4.00q $150 + $0.75q The company's planned level of activity was 2,000 hours and its actual level of activity was 1,900 hours. The actual amount of utilities expense for the period was $1,700. What is th spending variance for utilities expense?
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The following data pertain to activity and utility costs for two recent years: Year 2 Year 1 Activity Level in Units 10,000 6,000 Utilities Cost $12,000 $9,000 Using the high-low method, what is the cost formula for utilities?