I won't this question solution general accounting The following information is available for a company's maintenance cost over the last sevenmonths.MonthMaintenance hours Maintenance costJune11$4,780July17$6,400August13$5,320September 16$6,130October 22$7,750November 25$8,560December 7$3,700Using the high-low method, estimate both the fixed and variable components of itsmaintenance cost.

Step 1: Define High-Low MethodIn cost accounting, costs must be classified according to their…

Answered: The following information is available…

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

See similar textbooks

Similar questions

Using the high-low method, estimate both the fixed and variable components of its maintenance cost.
The controller of Hall Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month TotalMaintenance Costs TotalMachine Hours January $2,817 3,734 February 3,201 4,268 March 3,841 6,402 April 4,801 8,429 May 3,414 5,335 June 4,930 8,536 Determine the variable-cost components using the high-low method. (Round variable cost to 2 decimal places e.g. 12.25.) Variable cost per machine hour $ eTextbook and Media Determine the fixed cost components using the high-low method. (Round answer to 0 decimal places e.g. 2,520.) Fixed costs $
The following information is available for a company's maintenance cost over the last seven months. Maintenance Cost Month Units Produced June July 100 190 August 110 d September 140 October 200 November 230 50 $ 4,550 6,530 4,770 5,430 6,750 7,410 3,450 December Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per unit produced Cost at highest volume - Cost at lowest volume Highest volume Lowest volume Total cost at the highest volume Variable costs at highest volume: Highest volume Variable cost per unit produced Total variable costs at highest volume Total fixed costs Total cost at the lowest volume Variable costs at lowest volume: $ 3,960 $ 7,410.00 230 units $ $ $ 3,450.00 Lowest volume 50 units. Variable cost per unit produced $ Total variable costs at lowest volume Total fixed costs $ Variable cost per unit produced = *Red text indicates no response was expected in a cell or a…
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.
s
Answer 7,8,9
Subject: accounting
The controller of further industries..accounting question
need help solving
Morgan Company's maintenance costs and production are given below. Please give correct answer for these general accounting question
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.)
Provide correct solution for this general accounting question

SEE MORE QUESTIONS

Recommended textbooks for you

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS