None The following information is available for a company's maintenance cost over the last sevenmonths.MonthMaintenance Hours Maintenance CostJune11$4,950July175,600August 134,600September 165,500October 225,600November 255,800December 73,100Using the high-low method, estimate both the fixed and variable components of its maintenancecost.

Step 1: Introduction to Mixed Costs:Mixed costs are those costs that have characteristics of both…

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Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter28: Statistics And Linear Regression (stats)

Section: Chapter Questions

Problem 1R

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Using the high-low method, estimate both the fixed and variable components of its maintenance cost.
The following information is available for a company's maintenance cost over the last seven months. Month Units Produced Maintenance Cost June 180 $ 10,900 July 360 13,800 August 240 10,200 September 300 12,000 October 420 13,800 November 480 16, 200 December 120 7,200 Using the high-low method, the variable component of its maintenance cost is:
Answer 7,8,9
E19-3 The controller of Furgee Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Total Maintenance Costs Total Machine Hours Month January February March $2,500 3,000 3,600 4,500 3,200 4,900 300 350 500 April May 690 400 June 700 Instructions (a)) Determine the fixed- and variable-cost components using the high-low method. (b) Prepare a graph showing the behavior of maintenance costs, and identify the fixed- and variable-cost elements. Use 100-hour increments and $1,000 cost increments.
Pablo Company wishes to determine the fixed portion of its maintenance expenses (a semi-variable expense), as measured against direct labor hours for the first three months of the year. Information for the first quarter is as follows (refer to the attached picture): What is the fixed portion of Pablo Company’s maintenance expense using high-low method? * direct hours labor maintenance costs January 25000 210000 February 30000 240000 march 27000 222000
Jake’s Roof Repair has provided the following data concerning its costs:Fixed Cost Cost perper Month Repair-HourWages and salaries ..................... $23,200 $16.30Parts and supplies ........................ $8.60Equipment depreciation ................ $1,600 $0.40Truck operating expenses ........... $6,400 $1.70Rent .............................................. $3,480Administrative expenses ............... $4,500 $0.80For example, wages and salaries should be $23,200 plus $16.30 per repair-hour. The company expected towork 2,800 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales tobe $44.50 per repair-hour.Required:Prepare a report showing the company’s activity variances for May
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The controller of Blossom Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs: Total Total Month Maintenance Costs Machine Hours January $2,750 2,850 February 3,150 4,400 March 4,000 6.250 April 4,520 8,250 May 3,320 5.000 June 5,693 8,300 (a1) Determine the variable-cost component using the high-low method. (Round answer to 2 decimal places e.g. 12.25.)
The controller of Sandhill Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month January February March April May June Variable cost per machine hour Total Maintenance Costs Determine the variable-cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Determine the fixed cost components using the high-low method. Fixed costs $2,825 3,210 3,852 4,815 3,424 5,476 Total Machine Hours 3,740 4,280 6,420 8,453 5,350 8,560 $ $
Current Attempt in Progress The controller of Oriole Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month January February March April May June Total Maintenance Costs $2,860 3,160 3,760 4,660 3,360 5,260 Total Machine Hours 320 370 520 670 520 720
Harry began his analysis of repairing costs by collecting cost and activity data for a number ofrecent months. Those data are displayed below: Month ActivityLevelRepairing costDays Cost IncurredJanuary 1,750 $14,100February 1,944 $15,150March 1,400 $13,900April 1,600 $14,000May 1,500 $14,300June 1,270 $12,100July 2,270 $19,150August 1,500 $14,600Required:i. Using the high-low method, estimate the fixed cost of repairing cost per month and thevariable cost of repairing per activity level. Round off the fixed cost to the nearest wholedollar and the variable cost to the nearest whole cent.ii. Express the fixed and variable components as a cost formula in the equation form.

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