[The following Information applies to the questions displayed below.]Felix & Company reports the following Information.Period1Units ProducedTotal Costs8$ 2,58022003,0004003,4206003,8408004,2601,0004,6801,2005,1001,4005,52061,6005.9401,8006,360(1) Use the high-low method to estimate the fixed and variable components of total costs.(2) Estimate total costs if 2,580 units are produced.High-Low method - Calculation of variable cost per unitTotal cost at the highest volumeVariable costs at highest volumeHighest volumeVariable cost per unitTotal variable costs at highest volumeTota fixed costsTotal cost at the lowest volumeVariable costs at lowest volumeLowest volumeVariable cost per unitTotal variable costs at lowest volumeTotal fixed postsHigh-Low method - Calculation of fixed costs

Step 1: Highest point; Lowest point Take the highest level of activity (Period 10) and the lowest…

Answered: [The following Information applies to…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter19: Variable Costing (varcost)

Section: Chapter Questions

Problem 4R: To determine the effect of different levels of production on the company’s income, move to cell B7...

See similar textbooks

Similar questions

I need help with accounting question
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
The following activity and cost data that were provided by Hoist Corporation would help in estimating its future maintenance costs: Units Maintenance cost P1,350 7. P1,590 11 P1,920 15 P2.100 Using the least squares regression method to estimates the cost formula, the expected total cost for an activity level of 10 units would be closest to (nearest peso) e.g. 1405.688888, Type 1406 3.
Please need answer the accounting question do fast and correct answer
Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced 0 1 2 9 10 408 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 Total Costs $ 2,545 Total cost at the high point Variable costs at the high point Volume at the high point Variable cost per unit Total variable costs at the high point Total fixed costs 3,265 3,985 4,705 5,425 6,145 6,865 7,585 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. High-Low method- Calculation of variable cost per unit 8,305 9,025 Total cost at the low point Variable costs at the low point Volume at the low point Variable cost per unit Total variable costs at the low point Total fixed costs (2) Estimated cost if 3,000 units are produced: Estimated total cost High-Low method-Calculation of fixed costs 0
Tashiro Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 7,095 $252,840 2,795 162,540 4,350 186,920 a. Determine the variable cost per unit and the total fixed cost. Variable cost (Round to two decimal places.) $fill in the blank 1 per unit Total fixed cost $fill in the blank 2 b. Based on part (a), estimate the total cost for 3,560 units of production. Total cost for 3,560 units: $fill in the blank 3
Determine fixed and variable costs using the high-low method and prepare graph. E2.26 (LO 3) The controller of Furgee Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs. Total Maintenance Costs Total Machine Hours Month January February March April May June $2,500 3,000 3,600 4,500 3,200 4,900 300 350 500 690 400 700 Instructions a. Determine the fixed and variable cost components using the high-low method. b. Prepare a graph showing the behaviour of maintenance costs, and identify the fixed and variable cost components. Use 100-hour increments and $1,000 cost increments.
I need answer of this question
The table shows cost, C (q), and revenue, R (q). What are the fixed costs? Fixed costs = i 9 R(q) C(q) 0 0 2500 3000 2500 5000 7500 10000 12500 15000 500 1000 1500 2000 6000 6500 7000 7500 9500 11500 14250
High-low methodZiegler Inc. has decided to use the high-low method to estimate the totalcost and the fixed and variable cost components of the total cost. Thedata for various levels of production are as follows: Units Produced Total Costs 80,00092,000120,000 $25,100,00027,206,00032,120,000 A. Determine the variable cost per unit and the total fixed cost.B. Based on part (B), estimate the total cost for 115,000 units ofproduction.
The following data points are available. This is an example of a ________ cost. Units Costs600 $560650 $565800 $580900 $590A) variable B) fixed C) mixed D) none of the above
A company has developed a production cost equation for its lone product: Y = 30 + 5X, where X is based on the number of labor hours. Assuming a relevant range of 10 to 20 labor hours, what is the estimated production cost at zero (0) labor hour? a. P 30 b. P 80 c. P130 d. The exact amount cannot be determined without additional information

SEE MORE QUESTIONS

Recommended textbooks for you

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS