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Use the following information to answer the next two questions. Rounding instructions for these two questions: round your variable cost per unit to the nearest cent for purposes of answering the first question, BUT for purposes of performing additional calculations round the variable cost per unit at the FOURTH DECIMAL PLACE. For example, if you come up with a variable cost per unit of 55.28448 your answer for the first question would be 55.28, but you would use 55.2845 for any additional calculations where the variable cost per unit is utilized. If your answer for the second question is within $10 of one of the answer choices then assume your answer corresponds to that answer choice. A company provides the following information about the total amount of a mixed cost for each month along with the number of units produced in each month. Month Cost Units produced January $200,000 7,575 February $199,000 7,600 March $215,000 8,000 April $240,000 9,250 $241,000 9,225 May Using the high-low method of cost estimation, what is the variable cost per unit? $20.05 $23.88 $25.07 $25.85

Use the following information to answer the next two questions. Rounding instructions for these two questions: round your variable cost per unit to the nearest cent for purposes of answering the first question, BUT for purposes of performing additional calculations round the variable cost per unit at the FOURTH DECIMAL PLACE. For example, if you come up with a variable cost per unit of 55.28448 your answer for the first question would be 55.28, but you would use 55.2845 for any additional calculations where the variable cost per unit is utilized. If your answer for the second question is within $10 of one of the answer choices then assume your answer corresponds to that answer choice. A company provides the following information about the total amount of a mixed cost for each month along with the number of units produced in each month. Month Cost Units produced January $200,000 7,575 February $199,000 7,600 March $215,000 8,000 April $240,000 9,250 $241,000 9,225 May Using the high-low method of cost estimation, what is the variable cost per unit? $20.05 $23.88 $25.07 $25.85

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the following information to answer the next two questions. Rounding instructions for these two questions: round your variable cost per unit to the nearest cent for purposes of answering the first question, BUT for purposes of performing additional calculations round the variable cost per unit at the FOURTH DECIMAL PLACE. For example, if you come up with a variable cost per unit of 55.28448 your answer for the first question would be 55.28, but you would use 55.2845 for any additional calculations where the variable cost per unit is utilized. If your answer for the second question is within $10 of one of the answer choices then assume your answer corresponds to that answer choice. A company provides the following information about the total amount of a mixed cost for each month along with the number of units produced in each month. Month Cost Units produced January $200,000 7,575 February $199,000 7,600 March $215,000 8,000 April $240,000 9,250 $241,000 9,225 May Using the high-low method of cost estimation, what is the variable cost per unit? $20.05 $23.88 $25.07 $25.85
Transcribed Image Text:Use the following information to answer the next two questions. Rounding instructions for these two questions: round your variable cost per unit to the nearest cent for purposes of answering the first question, BUT for purposes of performing additional calculations round the variable cost per unit at the FOURTH DECIMAL PLACE. For example, if you come up with a variable cost per unit of 55.28448 your answer for the first question would be 55.28, but you would use 55.2845 for any additional calculations where the variable cost per unit is utilized. If your answer for the second question is within $10 of one of the answer choices then assume your answer corresponds to that answer choice. A company provides the following information about the total amount of a mixed cost for each month along with the number of units produced in each month. Month Cost Units produced January $200,000 7,575 February $199,000 7,600 March $215,000 8,000 April $240,000 9,250 $241,000 9,225 May Using the high-low method of cost estimation, what is the variable cost per unit? $20.05 $23.88 $25.07 $25.85
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