Labor costs The Unix Company uses the high-low method to determine its cost equation. Thefollowing information was gathered for the past year:Machine Hours Direct Labor CostsBusiest month (June)18,950Slowest month (December) 11,250$915,000$760,000If Unix expects to use 14,100 machine hours next month, what are the estimated directlabor costs? (Round your answer to nearest Dollar)

Concept of High-Low MethodThe High-Low Method is a technique used in cost accounting to estimate the…

Answered: The Unix Company uses the high-low…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 18M

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Suppose that a company is spending 60,000 per year for inspecting, 30,000 for purchasing, and 40,000 for reworking products. A good estimate of nonvalue-added costs would be a. 70,000. b. 130,000. c. 40,000. d. 90,000. e. 100,000.
The Macon Company uses the high-low method to determine its cost equation. The following information was gathered for the past year: Machine Hours Direct Labor Costs Busiest month (June) 24,000 $ 282,400 Slowest month (December) 18,000 $ 220,000 If Macon expects to use 20,000 machine hours next month, what are the estimated direct labor costs?
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Lazer Tag manufactures computer parts within a relevant range of 50,000 to 100,000 units per year. Complete the following manufacturing cost schedule (a through j) for Lazer Tag. Fill in the following chart. Parts Produced 50,000 100,000 TOTAL COSTS: Variable $75,000 ? Fixed 50,000 ? Total ? ? COSTS PER UNIT: Variable ? ? Fixed ? ? Total ? ?
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Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to determine Smithson's fixed costs per month. Round your final answer to the nearest dollar. Do not round interim calculations. Cost Machine Hours January $26,500 9,600 February 38,700 17,800 March 28,600 11,600 April 30,200 14,600 a.$9,774 b.$20,769 c.$39,094 d.$12,217
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Yelk Garage uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits $ 68 per hour Annual labor hours 3,100 hours Annual materials purchases $ 834,000 Materials purchasing, handling, and storage $ 50,040 Overhead for depreciation, taxes, insurance, etc. $ 68, 200 Target profit margin for both labor and materials 20 % What should Yelk set as the materials markup per dollar of materials used? Multiple Choice 26%. 6%. 20 %. 38%.32%.
Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to determine Smithson's fixed costs per month. Round your final answer to the nearest dollar. Do not round interim calculations. Cost Machine Hours January $26,300 10,200 February 36,000 18,300 March 28,900 11,700 April 30,100 15,500 Oa. $23,946 Оb. SI1,269 Oc. S45,075 Od. $14,086 Previous Next Submit Test for Grading Reflector-3.2.1.dmg Show All reen Shot 202..png Canceled
1.Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. a. What is the estimated variable portion of maintenance costs per labor hour? 2.What is the estimated fixed maintenance cost each month? 3.Formulate the regression equation 4.If it is estimated that 600 labor hours will be used in July, what is the expected total power cost for July? 5.Using the least-squares method of analyzing costs, answer the following questions and show computations to support your answers. a. What is the estimated variable portion of maintenance costs per labor hour? 5a. What is the estimated fixed maintenance cost each month? 5b.Formulate the regression equation 5c.If it is estimated that 600 labor hours will be used in July, what is the expected total power cost for July?
Could you please answer all the reuired fields correctly.
Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to determine Smithson's fixed costs per month. Round your final answer to the nearest dollar. Do not round interim calculations. Cost January $26,800 February 38,500 March 28,200 April 30,800 a. $23,329 Ob. $10,978 Oc. $43,914 Od. $13,723 Machine Hours 9,500 18,000 11,700 15,400 ?

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