Use the following data from Alpine Craft Co. to calculate fixed monthly costs using the high-low method: Month Cost Machine Hours January $78,500 8,200 February $145,000 16,500 March $99,800 11,600 April $118,000 14,000
Q: Can you solve this financial accounting problem using appropriate financial principles?
A: Provided Data:Selling price per meal = $11.50Variable cost per meal = $5.75Fixed costs =…
Q: Ans
A: Step 1: Definition of Beginning Cash BalanceThe Beginning Cash Balance for a period is the amount of…
Q: Provide answer
A: Step 1: Calculate revenueRevenue = 11,600 × 34 = 394,400 Step 2: Calculate variable costVariable…
Q: Provide correct option with accounting question
A: Step 1: Definition of Average Collection PeriodAverage Collection Period measures the average number…
Q: hello tutor please give me correct solution please
A: Answered in the image below.
Q: A company's new product launch is expected to generate additional sales revenue of $40,000 with no…
A: Step 1: Definition of After-Tax IncomeAfter-tax income is the amount of income a company retains…
Q: I am searching for the correct answer to this general accounting problem with proper accounting…
A: Explanation of Return on Assets (ROA):Return on Assets (ROA) measures how effectively a company uses…
Q: accounting question solution
A: Step 1: Definition of Markup PercentageMarkup Percentage is the percentage added to the cost price…
Q: Sunshine Toys Company sells yo-yos for $22.50 per yo-yo. In FY 2024, total fixed costs are expected…
A: Provided Data:Selling Price per Yo-Yo = $22.50Variable Cost per Yo-Yo = $15.75Fixed Costs =…
Q: Please provide the correct answer to this general accounting problem using valid calculations.
A: Step 1: Definition of License ExpenseA license expense is the cost incurred by a company to maintain…
Q: Please explain the correct approach for solving this general accounting question.
A: Step 1: Definition of Factory OverheadFactory Overhead (also called Manufacturing Overhead) includes…
Q: Please show me the correct approach to solving this financial accounting question with proper…
A: Concept of Contributed Capital:Contributed capital refers to the total amount of money or assets…
Q: The cost of the ending inventory will be
A: Explanation of Periodic Inventory System:A periodic inventory system is an accounting method where…
Q: What is the amount of overapplied or underapllied overhead?
A: To determine whether overhead is overapplied or underapplied, follow these steps: Step 1: Calculate…
Q: Please show me the correct approach to solving this financial accounting question with proper…
A: Concept of Accounts Receivable Turnover Ratio:The accounts receivable turnover ratio measures how…
Q: The income Statement shows income of $ 95,000 and expenses of $50,000
A: Concept of Assets:Assets are resources owned by a business that are expected to provide future…
Q: calculste summits return on equity using du pont analysis
A: Using DuPont Analysis- Return on Equity = Net Profit Margin * Total Asset Turnover * Equity…
Q: Please provide the correct answer to this financial accounting problem using accurate calculations.
A: Provided Data:Selling Price per Unit = $420Variable Cost per Unit = $295Fixed Costs = $187,500Step…
Q: Can you explain the correct approach to solve this general accounting question?
A: Step 1: Definition of Future ValueFuture value (FV) is the value of an investment at a specified…
Q: I am looking for the correct answer to this financial accounting problem using valid accounting…
A: Step 1: Definition of Actual Cost of Direct Materials UsedThe actual cost of direct materials used…
Q: 5 PTS
A: Explanation of Income Statement: The income statement is a financial document that reports a…
Q: Need help this question general accounting
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a key financial performance…
Q: Calculate the cost of raw materials used.
A: Step 1: Definition of Raw Materials UsedRaw Materials Used refers to the total amount of raw…
Q: Can you solve this general accounting problem using appropriate accounting principles?
A: Step 1: Definition of Absorption Cost per UnitAbsorption costing includes all manufacturing costs…
Q: What is sweet treats lnc's profit percentage for 2023? accounting question
A: Step 1: Definition of Gross Profit PercentageGross profit percentage (also known as gross margin…
Q: What is the balance in accounts receivable at year-end?
A: Step 1: Definition of Accounts Receivable BalanceAccounts receivable balance represents the amount…
Q: I am looking for the correct answer to this general accounting problem using valid accounting…
A: Step 1: Definition of §197 Amortization DeductionSection 197 of the Internal Revenue Code allows…
Q: I need help finding the accurate solution to this financial accounting problem with valid…
A: Concept of Net Income:Net income is the total profit a company earns after subtracting all expenses,…
Q: calculate henderdons return on assets
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that shows…
Q: How many pounds raw material should be purchased in February ?
A: Provided Data:Raw materials on hand (beginning inventory, Feb 1) = 78,000 poundsDesired ending…
Q: if value is not showing properly then please comment i will write values don't solve with incorrect…
A: The contribution margin is calculated by subtracting the variable cost per unit from the selling…
Q: Swamy Stationery Inc. budgeted production of 64,000 planners in 2023. Paper is required to produce a…
A: Hello student! Direct Materials Purchase Budget helps us determine the number of units that needs to…
Q: Can you solve this general accounting question with the appropriate accounting analysis techniques?
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold is the total cost incurred to…
Q: Accurate answer
A: The terms "4/10, net 45" mean that a 4% discount is offered if the payment is made within 10 days,…
Q: White Co. incurs a cost of $17 per pound to produce Product X, which it sells for $25 per pound. The…
A: Explanation of Differential Cost: Differential cost refers to the additional or incremental costs…
Q: I want to correct answer
A: Step 1: Definition of Sales (based on Gross Profit)Sales refer to the total revenue a business earns…
Q: ROA FOR 2023?
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a profitability ratio that…
Q: I am looking for help with this financial accounting question using proper accounting standards.
A: Step 1: Define Opening Cash BalanceThe Opening Cash Balance is the amount of cash a company has at…
Q: No AI
A: Concept of Product CostsProduct costs are all costs involved in acquiring or making a product. These…
Q: What is its ROE?
A: As per DuPont Analysis, Return on Equity = Net Profit Margin * Total Asset Turnover * Equity…
Q: Bright wood Seating sells reclining chairs for $500 per unit. The variable cost is $22 per unit.…
A:
Q: Don't use ai given answer accounting
A: Solution:To determine the capital gain or loss on the bond, we follow these steps:Understand the…
Q: The total manufacturing costs incurred for the year are $320,000. The overhead cost was 58% of the…
A: Provided Data:Total manufacturing costs = $320,000Overhead cost = 58% of direct labor costDirect…
Q: I need help solving this general accounting question with the proper methodology.
A: To calculate the new contribution margin if sales volume increases by 35%, follow these steps: Step…
Q: Quick answer of this accounting
A: Step 1: Definition of Manufacturing Fixed Overhead RateThe Manufacturing Fixed Overhead Rate is the…
Q: I need help with this financial accounting problem using proper accounting guidelines.
A: Step 1: Define Capital ImprovementsCapital improvements are additions or upgrades to an asset that…
Q: In applying the high-low method, what is the unit variable cost?
A: Concept of High-Low Method:The high-low method is an accounting technique used to separate fixed and…
Q: Can you help me solve this general accounting question using valid accounting techniques?
A: Step 1: Definition of Bad Debt ExpenseBad debt expense is the amount of accounts receivable that is…
Q: Bravura Motors started the year with total assets of $410,000 and total liabilities of $265,000.…
A: Step 1: DefinitionsConcept of Stockholders' Equity:Stockholders' equity represents the owners' claim…
Q: Solve this
A: Explanation of Cash Receipts: Cash receipts represent the actual inflow of cash that a business…
I am looking for help with this general accounting question using proper accounting standards.
Step by step
Solved in 2 steps
- Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to calculate Bounty' variable utilities costs per machine hour. Round your answer to the nearest cent. March April May June Cost $3,100 2,700 2,900 3,600 Machine Hours 15.000 10,000 12,000 18,000Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's variable utilities cost per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,100 15,000 April 2,700 10,000 May 2,900 12,000 June 3,600 18,000 a.$10.00 b.$0.63 c.$0.11 d.$0.67Given the following cost and activity observations for Bounty Company’s utilities, use the high-low method to determine Bounty’s variable utilities cost per machine hour. Round to the nearest cent. Cost Machine Hours March $3,139 14,709 April 2,650 9,989 May 2,817 12,342 June 3,656 17,720 a. $0.74 b. $0.13 c. $1.43 d. $0.78
- Harbor Images has collected the following cost data for various levels of activity: Images Created Total Cost $5,700 $6,320 $9,210 $5,250 Month 6,000 7,750 8,100 4,500 August September October November a. Using the high-low method, determine the variable cost per image created and the total fixed cost. (Round your variable cost to 2 decimal places.) Variable Cost Per Image Fixed Cost Per Month b. Estimate the total costs when 6,500 images are created. (Do not round your intermediate calculations.) Total CostsThe cost data for BC Billing Solutions for the year 2020 is as follows: Using the high-low method, express the companys overtime wages as an equation where x represents number of invoices processed. Assume BC has monthly fixed costs of $3,800. Predict the overtime wages if 9,000 invoices are processed. Predict the overtime wages if 6,500 invoices are processed. Using Excel, create a scatter graph of the cost data and explain the relationship between the number of invoices processed and overtime wage expense.Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for a Time Period That Differs from the Data Period Refer to the information for Pizza Vesuvio on the previous page. Assume that this information was used to construct the following formula for monthly labor cost. TotalLaborCost=5,237+(7.40EmployeeHours) Required: Assume that 4,000 employee hours are budgeted for the coming year. Use the total labor cost formula to make the following calculations: 1. Calculate total variable labor cost for the year. 2. Calculate total fixed labor cost for the year. 3. Calculate total labor cost for the coming year. Use the following information for Brief Exercises 3-17 through 3-20: Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected:
- High-Low Method Refer to the information for Luisa Crimini above. Required: 1. Which month represents the high point? The low point? 2. Using the high-low method, compute the variable rate for tanning. Compute the fixed cost per month. 3. Using your answers to Requirement 2, write the cost formula for tanning services. 4. Calculate the total predicted cost of tanning services for September for 2,500 appointments using the formula found in Requirement 3. Of that total cost, how much is the total fixed cost for September? How much is the total predicted variable cost for September? 5. CONCEPTUAL CONNECTION Identify and briefly explain any additional issues that Luisa might be wise to consider when using the high-low method to estimate the costs of her tanning salon.What is the veriable cost per minute?Acacia Manufacturing has compiled the following information from the accounting system for the one product it sells: $45 per unit Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) Required: a. Calculate the product costs per unit Note: Round your answer to 2 decimal places. b. Calculate the period costs for the period. $ 23,100 $ 8,400 Exercise 2-55 (Static) Components of Full Costs (LO 2-6) a. Product costs per unit b. Period costs $2 $ 13 $3 $9 21,000
- Acacia Manufacturing has compiled the following information from the accounting system for the one product it sells: $ 45 per unit Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) Required: a. Determine the variable manufacturing cost per unit. b. Determine the variable cost per unit. c. Determine the full absorption cost per unit Note: Round your answer to 2 decimal places. d. Determine the full cost per unit Note: Round your answer to 2 decimal places. $ 23,100 $ 8,400 Exercise 2-54 (Static) Components of Full Costs (LO 2-6) a. Variable manufacturing cost per unit b. Variable cost per unit c. Full absorption cost per unit d. Full cost per unit $2 $ 13 $3 $9 21,0009.-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 10,100 February 35,400 17,800 March 28,300 11,500 April 31,500 15,200Graber and Johnson, Attorneys at Law, recently opened a law practice in the Northwest. Their goal is to generate a monthly net income of $10,000. They have initially set their billing rate at $150 per hour. Their billable hours in the first month of operations (January) were 150 and in the second month of operations (February) were 175 billable hours. The costs incurred at these levels for January and February are given below. 150 billable hours 175 billable hours Salaries: Mr. Graber Ms. Johnson Legal Secretary Depreciation (Furniture) Supplies Rent Utilities Total cost $10,000.00 10,000.00 4,000.00 500.00 450.00 1,000.00 412.00 $26,362.00 $10,000.00 10,000.00 4,000.00 500.00 525.00 1,000.00 449.50 $26,474.50
