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: 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? a. $1.20 per unit. b. $1.50 per unit. c. $3,000 plus $3.00 per unit. d. $4,500 plus $0.75 per unit.
52. The following data pertains to activity and utility costs for two recent years: Year 2 Year 1 Activity level in units. Utilities cost. 12,000 8,000 $15,000 $12,000 Using the high-low method, the cost formula for utilities is: A. $1.50 per unit B. $8,000 plus $0.50 per unit C. $1.25 per unit D. $6,000 plus $0.75 per unit
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
Townhall Corp. has provided the following data for its utility cost: Prior Current Year Year 8,000 10,000 Machine hours Utility cost $26,600 $31,000 Utility cost is a mixed cost with variable and fixed components. The fixed and variable components of utility cost are closest to: (Round your intermediate calculations to 2 decimal places.) A
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
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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?
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?
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 $3,107 14,586 April 2,674 10,257 May 2,816 12,190 June 3,767 17,550 Oa. S1.80 Оb. so.15 Oc. S0.71 Od. S0.75 Previous Next MacBook Air
Burnham Industries incurs these costs for the month: A. What Is the prime cost? B. What is the conversion cost?

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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?