The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) April $116,900 281,000 May 85,100 160,800 June 103,700 244,200 Using the high-low method, the variable cost per unit and the total fixed costs are

The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) April $116,900 281,000 May 85,100 160,800 June 103,700 244,200 Using the high-low method, the variable cost per unit and the total fixed costs are

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: DeAnne Company produces a single product. The company's variable costing income statement for August…

A: Absorption costing refers to a method of costing to account for all the costs of manufacturing.

Q: The manufacturing costs of Mocha Industries for three months of the year are as follows: Total…

A: Solution:-a Calculation of the variable cost per unit of Using the high-low method as follows…

Q: Using the high-low method, the variable cost per unit and the total fixed costs are

A: The high-low method is a way of attempting to separate out fixed and variable costs given a limited…

Q: The manufacturing costs of Calico Industries for 3 months of the year are as follows: Total Cost…

A: Answer with all workings are as follows.

Q: Consider the following information for Presidio Incorporated's most recent year of operations.…

A: In absorption costing method, the unit product cost is the sum of all manufacturing costs per unit…

Q: The Western Company presents the production and cost data for the first six months of the 2015.…

A: Mixed costs is the combination of variable and fixed costs. High-low method is used to bifurcate the…

Q: XYZ Company incurred the following costs for the month of August when it observed an activity level…

A: Step 1: variable cost is the cost which changes with change in production volume.Fixed cost do not…

Q: The manufacturing costs of Ackerman Industries for the first three months of the year follow:…

A: The high-low method is a method to split the variable and fixed cost components of an entity's mixed…

Q: The manufacturing costs of Rosenthal Industries for the first three months of the year follow:…

A: A high low method is used to separate the mixed cost into fixed cost and variable cost. In this…

Q: The manufacturing costs of Kellam Industries for the first three months of the year follow: Total…

A: Variable cost is a expense that changes in proportion to how much a company produces or sells. Fixed…

Q: The following information is available for a company's maintenance cost over the last seven months.…

A: A variable cost is one that changes depending on the amount produced or sold by the company.…

Q: Assume the following information for a company that produced 10,000 units and sold 9,000 units…

A: Step 1: Gross margin can be calculated by subtracting the Cost of goods sold (product cost) from the…

Q: Sterling Glass Company uses the high-low method to analyze mixed costs. The following information…

A: The formula for variable cost per hour using High-Low Method: Variable cost per unit=Highest…

Q: Month January February March April May Cost $11.0 $10,8 $12,5 $13,2 $13.C

A: Answer : Variable cost using high low method Variable cost = (Highest unit cost - Lowest unit cost)…

Q: The manufacturing costs of Mocha Industries for three months of the year are as follows: Total Cost…

A: Variable costs: These are the costs that vary with the number of units produced. The more the units…

Q: X Company sells one product. The following are the accountant's price and cost estimates for next…

A: The Break-even point indicates that total units are to be sold by the business entity to recover its…

Q: Data concerning NikNik Corporation's activity for the 6 months appear below: Machine Electrical Cost…

A: High low method is a method of cost estimation under which variable costs and fixed costs are being…

Q: Masley Corporation Variable manufacturing cost per unit produced: Direct materials Direct labor…

A: The unit product cost refers to the cost incurred in the factory for the production of goods and…

Q: Pearson Electric Company uses the high-low method to analyze mixed costs. The following information…

A: A high low method is used to separate the mixed cost into fixed cost and variable cost. In this…

Q: Given the following cost and activity observations for Johnson Company's utilities, use the high-low…

A: Introduction:- High-low method is one of the technique that is used to separate fixed and variable…

Q: The following information were obtained from the records of HILO Company: Production in units 8, 000…

A: Variable costing means that inventory is valued at variable manufacturing cost and fixed cost is…

Q: The manufacturing cost of Carrie Industries for the first three months of the year are provided…

A: Under high low method of cost estimation, variable cost per unit and fixed costs are calculated by…

Q: ) Presented below are the production data for the first six months of the year for the mixed costs…

A: 1. What is the cost function? We're going to use the high-low method, which involves identifying…

Q: The following cost relate to XYZ Corp for the year: Sales commission expenses P 185,000 Direct…

A: In this question we are require to calculate the total manufacturing(Product) cost. Manufacturing…

Q: has prepared and presented the following financial dată től Variable costs: Direct labor (per unit)…

A: Since you have posted a question with multiple sub parts, we will provide the solution only to the…

Q: Norwood Company has the following information for September: Sales $490,000 Variable cost of goods…

A: Computation of the Norwood Company for the month of September are as follows:

Q: a. Variable cost per unit $fill in the blank 1 b. Total fixed cost $fill in the blank

Q: The manufacturing costs of Kellam Industries for the first three months of the year follow: Total…

A: Under high-low method costs between highest and lowest activities are compared to compute variable…

Q: Noriel Company has collected the following information over the last six months: Month Units…

A: high-low method is a way of attempting to separate out fixed and variable costs from mixed costs…

Q: The manufacturing costs of Rosenthal Industries for the first three months of the year follow:…

A: Lets understand the basics.In high low method, total costs are bifurcated between the variable cost…

Q: net income be higher under:

A: Option b is wrong because net income is lower under absorption costing system. Absorption costing…

Q: Consider the following information for Presidio Inc.'s most recent year of operations. Number of…

A: Under Full Absorption Income Statement , Gross Profit = Sales - Cost of goods sold Net Operating…

Q: During Heaton Company's first two years of operations, it reported absorption costing net operating…

A: Using variable costing, only variable manufacturing costs are treated as product cost. The fixed…

Q: The manufacturing costs of Calico Industries for 3 months of the year are as follows: Production…

Q: Please provide correct solution for correct answer

A: Step 1: Introduction to the Cost Accounting:Cost accounting helps the business determine the total…

Q: Salem Company has the following costs information for June where production volume is 2,000 units:…

A: Hi studentSince there are multiple questions, we will answer only first question.Variable costs are…

Q: Please solve this correct solution

A: ANSWER : Total CostProduction June$300,0002,700 Units←LowestJuly$440,0005,500…

Q: Menk Corporation has provided the following information: Cost per Unit Cost per Period Direct…

A: Variable cost per unit sold = Direct materials + Direct labor + Variable manufacturing overhead +…

Q: Month No of Units Total Cost anuary 19 P 15,200 February 11 P 13,200 March 46 P 40,800 April 17 P…

A: The high low method is important to separate the fixed and variable costs from the mixed costs of…

Q: The Macon Company uses the high-low method to determine its cost equation. The following information…

A: Variable cost per unit using high-low method = (Highest Cost - Lowest Cost) / (Highest Activity -…

Question

100%

11. The manufacturing costs of Calico Industries for three months of the year are provided below:

	Total Cost	Production (units)
April	$116,900	281,000
May	85,100	160,800
June	103,700	244,200

Using the high-low method, the variable cost per unit and the total fixed costs are

Definition Definition Total cost of procuring or producing a product or the cost that an individual or business owner undertakes for the manufacturing of goods.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

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

The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) April $120,600 280,200 May 91,100 166,500 June 104,000 237,900 Using the high-low method, the variable cost per unit and the total fixed costs are
Norwood Company has the following information for July: Sales $440,000 Variable cost of goods sold 198,000 Fixed manufacturing costs 70,400 Variable selling and administrative expenses 44,000 Fixed selling and administrative expenses 26,400 Determine the following for Norwood Company for the month of July: a. Manufacturing margin $fill in the blank 1 b. Contribution margin $fill in the blank 2 c. Operating income $fill in the blank 3
The manufacturing costs of Bartee-Allen Enterprises for the second three months of the yearfollow: Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost.
The manufacturing costs of Calico Industries for 3 months of the year are as follows: Total Cost Production (units) April $120,300 277,700 May 84,500 164,100 June 109,300 244,300 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.$3.20 per unit and $3,144, respectively b.$0.58 per unit and $15,718, respectively c.$5.76 per unit and $3,144, respectively d.$0.32 per unit and $31,436, respectively
Sales price per unit. 51.00 Fixed costs (per month): Selling, general, and administrative (SG&A) 900,000 Manufacturing overhead 1,800,000 Variable costs (per unit): Direct labor 8.00 Direct materials 13.00 Manufacturing overhead 9.00 4.00 SG&A Number of units produced per month. 300,000 units Required: Compute the amounts for each of the following assuming that both production levels are within the relevant range. (Do not round intermediate calculations. Round your answers to 2 decimal places.) 300,000 units 400,000 units a. Prime cost per unit. b. Contribution margin per unit. C. Gross margin per unit. d. Conversion cost per unit. e. Variable cost per unit. f. Full absorption cost per unit. g. Variable production cost per unit. h. Full cost per unit. $
need answer of this Question Please Provide it
None
Robin Inc. shows the following manufacturing costs for the Third quarter of the year: Production Total in Units Costs July 3,800 $59,550 August 4,200 $62,450 September 5,500 $71,875 Using the high-low method, determine the total fixed costs. (Round intermediate calculations to two decimal places, and the final calculation to the nearest dollar.) $39,875 $27,550 $39,875 $32,000
The manufacturing costs of Mocha Industries for 3 months of the year are as follows: Total Cost ProductionApril $58,354 1,870 units May $61,504 2,620 June $66,460 3,800 Using the high-low method, determine the (a) variable cost per unit and (b) the total fixed costs. Round "Cost per unit" answer to two decimal places. a. Variable cost per unitb. Total fixed costs
The manufacturing costs of Barretto Enterprises for three months of the year follow: Total Costs Units Produced July $495,000 3,100 units August 551,000 6,600 September 535,000 4,800 Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost. a. Variable cost per unit $fill in the blank 1 b. Total fixed cost $fill in the blank 2