The following information is available for company's cost of sales over the last five months. Month Units sold Cost of sales January 360 $29,400 February 760 $35,000 March 1,400 $47,000 April 2,200 $59,000 Using the high-low method, the estimated total fixed cost is: a. $23,602. b. $29,600. c. $20,424. d. $94,408. e. $47,204.

The following information is available for company's cost of sales over the last five months. Month Units sold Cost of sales January 360 $29,400 February 760 $35,000 March 1,400 $47,000 April 2,200 $59,000 Using the high-low method, the estimated total fixed cost is: a. $23,602. b. $29,600. c. $20,424. d. $94,408. e. $47,204.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

See similar textbooks

Similar questions

The following information is available for a company's cost of sales over the last five months. MonthUnits soldCost of salesJanuary560$28,600February740$34,000March1,300$46,000April2,560$58,000 Using the high-low method, the estimated total fixed cost is:
give the classification of the following: Cost B, Cost D and Cost E
Please help me
Q6. Calculate the total packing and shipping costs for the month of May relating to: ora Sam's Mart Company Activity Cost per Unit of Activity Driver Customer relations per month Selling Accounting Warehousing d. All of the above Packing Shipping Per customer Per sales dollar Per order Per unit shipped Per unit shipped Per pound shipped The following information pertains to Sam's Mart activities in Minnesota for the month of May: Number of orders Sales revenue Cost of goods sold 200 $160,000 $95,000 $100.00 0.06 5.00 0.50 0.25 0.20 a $50 and $40 b. $5,400 and $90,000 c. $1,350 and $18,000 d. $23,850 and $19,080 Number of customers 25 Units shipped Pounds shipped 5,400 90,000 = 5 008.822((A 001.AT2 TS Pailing (5400* (25) Shipping (90,000 1,350 =2
Menlo Company distributes a single product. The company’s sales and expenses for last month follow: Total Per UnitSales. . . . . . . . . . . . . . . . . . . . . . . . $450,000 $30Variable expenses . . . . . . . . . . . . . 180,000 12Contribution margin . . . . . . . . . . . . 270,000 $18Fixed expenses. . . . . . . . . . . . . . . . 216,000Net operating income . . . . . . . . . . . $ 54,000 Required: 1. What is the monthly break-even point in units sold and in sales dollars? 2. Without resorting to computations, what is the total contribution margin at the break-even point? 3. How many units would have to be sold each month to earn a target profi t of $90,000? Use the formula method. Verify your answer by preparing a contribution format income statement at the target sales level.4. Refer to the original data. Compute the company’s margin of safety in both dollar and percentage terms. 5. What is the company’s CM ratio? If sales increase by $50,000 per month and there is no change in fi…
The gross margin for Corona Company for the third quarter of the year was R3 250 000, when sales were R7 000 000. The beginning inventory of finished goods was R600 000 and the ending inventory of finished goods was R850 000. The cost of goods manufactured for the third quarter would have been:A.R3 850 000B.R3 750 000C.R4 000 000D.R3 500 000
A company has provided the following details for a month: Estimated Sales Units 16,500 Variable Selling and Administrative Expense per Unit $4.00 Fixed Selling and Administrative Expenses $95,000 Depreciation Expense included in Fixed Selling and Administrative Expense $27,000 How much is expected cash disbursements for selling and administrative expenses?
The related data of Finland Company: Quantity Unit cost January 1 800 P200 January 12 600 220 January 24 280 230 At month-end, the physical count show 350 units remained. The entity rounds off the unit cost in 2 decimal places. Under the Weighted average, how much is the cost of sales?
Norwood Company has the following information for September: Sales $490,000 Variable cost of goods sold 225,400 Fixed manufacturing costs 73,500 Variable selling and administrative expenses 53,900 Fixed selling and administrative expenses 29,400 Determine the following for Norwood Company for the month of September: a. Manufacturing margin $ b. Contribution margin $ c. Operating income $
Smithen Company, a wholesale distributor, has been operating for only a few months. The company sells three products-sinks, mirrors, and vanities. Budgeted sales by product and in total for the coming month are shown below based on planned unit sales as follows: Sinks Mirrors Vanities Total Units 1,000 500 500 2,000 Percentage of total sales Sales Variable expenses Contribution margin Contribution margin per unit Fixed expenses Operating income Break-even point in unit sales: Percentage sex 25% 25% 100% Break-even point in sales dollars: Total Fixed expenses. Weighted-average CM per unit Sinks 48% Product Mirrors 20% $264,000 100.00% $110,000 100.00% $176,000 100.00% $550,000 100.00% 80,000 30.30% 72,000 65.45% 82,000 46.59% 219,300 39.87% 53.41% 60.13% $184,000 $ 94,000 330,700 69.70% 38,000 34.55% S 76.00 $ 184.00 $ 188.00 Fixed expenses Overall CM ratio $293,300 $158.00 Vanities 32% $293,300 0.60 1,856.33 units Total 100% 293,300 $ 37,400 = $487,798.61 *($184.00 0.50) + ($76.00 x…
During August, Tyson Company sold 5,400 units and reported the following income statement: Sales revenue Variable costs Fixed costs Net income $216,000 $ 70,200 $ 86,400 $ 59,400 Calculate the number of units that Tyson Company needed to sell during August in order to earn a target profit equal to 30% of sales. 5,760
Use the attached and calculate the below: Identify the fixed and variable costs associated with Cosgrove. Calculate the average costs per month.