The following information is available about electricity costs for the first six months of the year.  Management think that electricity costs are likely to be related to how long machines are running. Month Machine hours Electricity Cost January 2,800 $2,925 February 5,600 $5,526 March 6,200 $5,980 April 3,500 $3,620 May 2,300 $2,470 June 4,500 $4,450 You may wish to refer to the formula sheet to answer this question.  If you haven't already downloaded it, you can download it here.

Q: The following information shows maintenance cost over the last four months. Month January February…

A: VARIABLE COST Variable Cost is a cost that varies with the level of output.Variable costs include…

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Q: Maintenance costs at Oceanside Hotel over the past six months are listed in the following table…

A: Variable cost is the cost that changes with change in the activity of the cost driver used. The…

Q: Solomon Corporation estimated its overhead costs would be $ insurance premium on the manufacturing…

A: PREDETERMINED OVERHEAD RATEPredetermined rate means an indirect cost rate.Predetermined overhead…

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A: Revenue and spending variance :— It is the difference between flexible budget and actual results.…

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A: Cost accounting deals with assign, allocate, controlling and examining various costs that are…

Q: Help

A: The problem is asking you to compute the fixed cost portion using the High-Low Method of estimating…

Q: Need answer the question

A: Step 1:   Step 2: Step 3: Step 4:

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A: Contribution  = sales - variable costs

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A: MANUFACTURING OH BUDGETManufacturing OH Budget is the Management Estimation of Manufacturing OH Cost…

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A: Formula: Cost per unit = Total cost / Number of units Division of number of units with total cost…

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A: The high low method of estimating costs dictates that the difference between the cost at the highest…

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A: Step…

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A: Variable cost is the cost that changes with change in the activity of cost driver used. The variable…

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A: Activity variances is computed as = Flexible budget amount - Static budget amount

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Q: Machine hours and electricity costs for Wells Industries for 2011 were as follows:     Machine…

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Q: The following information is available about electricity costs for the first six months of the year.…

A: High low method Formula: Variable cost per unit = (Highest activity cost - Lowest activity cost) /…

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A: High- Low volume method is the method wherein the variable &fixed costs of a product are…

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Q: I want to answer for this question

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A: The question is based on the concept of Cost Accounting.

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A: Introduction: Fixed costs: Fixed costs are those costs which remains same irrespective of level of…

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A: Flexible Budget Particulars Activity = 2700 hours Activity = 2600 hours Hours Worked 2700 2600…

Q: Please give solution

A: High-Low Approach: One of the few techniques in accounting that separates fixed and variable costs…

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A: High low method is used to separate the fixed costs from the variable cost. It is used to determine…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.