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.

Answered: The following information is available…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following data are available for MR SANJO Corp. during the past months:
Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost per Month $ 20,900 Cost per Repair-Hour. $ 15.00 $ 7.78 $8.35 $ 1.80 Wages and salaries. Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses For example, wages and salaries should be $20,900 plus $15.00 per repair-hour. The company expected to work 2,500 repair-hours In May, but actually worked 2,400 repair-hours. The company expects its sales to be $45.00 per repair-hour. Revenue Expenses: $ 2,760 $ 5,790 $ 4,640 $ 3,850 Required: Compute the company's activity variances for May. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as positive values.) Jake's Roof Repair Activity Variances For the Month Ended May 31 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Rent Administrative expenses Total expense Net operating…
The graph below shows monthly data collected on facilities maintenance department costs and on the number of patient-days serviced over the past year. 50,000 45,000 Line of Best Fle 40,000 35,000 30,000 25, 000 20,000 15,000 10,000 5,000 1,000 2,000 3,00 4,000 5,000 6,000 # of Patient-Days Using 0 and 3,000 patient-days, the total cost at an activity level of 8,000 customer patient-days would be: O a. $91,000 O b. $66,860 O c. $63,360 O d. $55,000 Maintenance Department Costs
Jake’s Roof Repair has provided the following data concerning its costs: Fixed Costper Month Cost perRepair-Hour Wages and salaries $ 20,900 $ 15.00 Parts and supplies $ 7.60 Equipment depreciation $ 2,730 $ 0.55 Truck operating expenses $ 5,750 $ 1.60 Rent $ 4,650 Administrative expenses $ 3,870 $ 0.70 For example, wages and salaries should be $20,900 plus $15.00 per repair-hour. The company expected to work 2,900 repair-hours in May, but actually worked 2,800 repair-hours. The company expects its sales to be $48.00 per repair-hour. Required: Compute the company’s activity variances for May.
Jake's Roof Repair has provided the following data concerning its costs: Cost per Repair-Hour Fixed Cost per Month $ Wages and salaries Parts and supplies Equipment depreciation $ Truck operating expenses $ Rent $ Administrative expenses $ 21,100 2,750 5,780 4,660 3,840 $ 16.00 $ 7.20 $ 0.55 $ 1.70 $ 0.40 For example, wages and salaries should be $21,100 plus $16.00 per repair-hour. The company expected to work 2,600 repair-hours in May, but actually worked 2,500 repair-hours. The company expects its sales to be $48.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Need to make sure my notes coincide with this example problem from video. please include how you calculated each part. Thank you
Tenta Inks Company has compiled the following data for the last five months of operations: Month Labor Hours Cost of Sales August 160 ₱ 617 September 130 ₱553 October 180 ₱596 November 190 ₱725 December 110 532 Applying the HIGH-LOW METHOD, derive the cost equation. _____________________.
Answer
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?
Given the following cost and activity observations for Smithson Company’s utilities, use the high-low method to determine Smithson's fixed costs per month. Do not round intermediate computations. Cost Machine Hours January $88,390 9,700 February 156,150 18,500 March 110,360 12,500 April 126,390 14,600 a. $11,000 b. $13,700 c. $23,300 d. $43,800
7

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