I won't correct answer general Accounting The following information was available about supplies cost for the secondquarter of the 2011 year:Production Volume Supplies CostMonthJune1,000July700August1,600September 600$4,560$3,185$7,100$2,700a. Using the high-low method, what would be the variable cost per unit?b. Using the high-low method, what would be the total fixed costs?c. Using the high-low method, what would be the estimated cost of suppliesat a volume of 1,000 units of production?

Step 1: Define High-Low MethodA business entity will incur three types of expenses, namely, fixed…

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 4BE

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Solve for the cost line equation using the high-low method: \table[[Month, Units Produced,Total Cost], [1,4,500,$ 38,000
Given the following cost and activity observations for Leno Enterprises'utilities, use the high-low method to calculate Leno's variable utilities cost permachine hour. Cost Machine HoursSeptember £4,100 22,000October £3,700 18,000November £3,900 19,000December £4,500 28,000a) £0.08b) £4.86c) £0.25d) £12.50
a) Classify each cost element as either fixed, variable, or mixed b) Calculate: (i) the variable production cost per unit and the total fixed production overhead. (ii) The total variable cost per unit and the total fixed costs Hint: Use the high-low method to separate mixed costs into their fixed and variable components. c) Assuming sales of 5,000 units, prepare a contribution margin income statement for the year ended December 31, 2020, detailing the components of total variable costs and total fixed costs, and clearly showing contribution and net income.
Evaluate the quantity at which revenue equals to costs (break-even point). <use Goal seek> Assumptions: Fixed cost: 5000 Material costs per item: 2.25 Labor costs per item: 6.5 Shipping costs per 100 items: 200 Price per item: 12.99
Your boss would like you to estimate the fixed and variable components of a particular cost Actual data for this cost over four recent periods appear below. Activity Cost Period 1 22 235 Period 2 23 243 Period 3 25 255 Period 4 20 227 Using the least-squares regression method, what is the cost formula for this cost? Y = P107.45 + P5.89X O Y = P0.00 + P10.67X O Y = P111.92 + P5.69X O Y = P120.81 + P3.56X
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LO.10 (Appendix: carrying costs) Determine the carrying costs for an item costing $6.80, given the following per-unit cost information: Storage cost $0.24 Handling cost 0.28 Production labor cost 1.70 Insurance cost 0.44 Opportunity cost 8% of investment
1. The following data pertains to activity and utility cost for two recent periods:Activity level (units) 8,000 5,000Utility cost $8,000 $6,500Utility cost is a mixed cost with both fixed and variable components. Using the high-lowmethod, the cost formula for utility cost is:A. Y = $1.00 XB. Y = $1.25 XC. Y = $4,000 + $0.50 XD. Y = $1,500 + $1.25 X
What is the appropriate target selling price on this general accounting question?
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Break-Even Sales Under Present and Proposed Conditions Portmann Company, operating at full capacity, sold 1,000,000 units at a price of $190 per unit during the current year. Its income statement is as follows: Sales $190,000,000 Cost of goods sold (102,000,000) Gross profit $88,000,000 Expenses: Selling expenses $15,000,000 Administrative expenses 14,700,000 Total expenses (29,700,000) Operating income $58,300,000 The division of costs between variable and fixed is as follows: Variable Fixed Cost of goods sold 70% 30% Selling expenses 75% 25% Administrative 50% 50% expenses Management is considering a plant expansion program for the following year that will permit an increase of $13,300,000 in yearly sales. The expansion will increase fixed costs by $4,500,000 but will not affect the relationship between sales and variable costs. Required:
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