The manufacturing costs of Calico Industries for 3 months of the year are as follows: Total Cost Production (units) April $112,900 279,800 May 87,900 163,000 June 99,200 240,100 Using the high-low method, the variable cost per unit and the total fixed costs are Round your intermediate calculations to two decimal places. a. $0.21 per unit and $54,142, respectively Ob. $0.38 per unit and $27,071, respectively Oc. $2.10 per unit and $5,414, respectively Od. $3.78 per unit and $5,414, respectively

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
please answer within 30 mins.
The manufacturing costs of Calico Industries for 3 months of the year are as follows:
Total Cost
Production (units)
April
$112,900
279,800
May
87,900
163,000
June
99,200
240,100
Using the high-low method, the variable cost per unit and the total fixed costs are
Round your intermediate calculations to two decimal places.
a. $0.21 per unit and $54,142, respectively
Ob. $0.38 per unit and $27,071, respectively
c. $2.10 per unit and $5,414, respectively
Od. $3.78 per unit and $5,414, respectively
Transcribed Image Text:The manufacturing costs of Calico Industries for 3 months of the year are as follows: Total Cost Production (units) April $112,900 279,800 May 87,900 163,000 June 99,200 240,100 Using the high-low method, the variable cost per unit and the total fixed costs are Round your intermediate calculations to two decimal places. a. $0.21 per unit and $54,142, respectively Ob. $0.38 per unit and $27,071, respectively c. $2.10 per unit and $5,414, respectively Od. $3.78 per unit and $5,414, respectively
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Double entry bookkeeping system
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education