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…

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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. Using the high-low method, estimate both the fixed and variable components of its maintenance cost. Month Units Produced Maintenance CostJune . . . . . . . . . . . . . . . 90 $5,450 July . . . . . . . . . . . . . . . . 180 6,900 August . . . . . . . . . . . . . 120 5,100 September . . . . . . . . . . 150 6,000 October . . . . . . . . . . . . 210 6,900 November . . . . . . . . . . 240 8,100 December . . . . . . . . . . . 60 3,600
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 $
What is the estimated fixed maintenance cost?
Determine the fixed component using the high -low method
General accounting
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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.
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The controller of further industries..accounting question
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Estimated variable portion of maintenance costs

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