Hi expart Provide solution Wilson Company's activity for the first six months of thecurrent year is as follows:Machine Hours Electrical CostMonthJanuary 2,000$1,600February 3,000$2,200March 2,400$1,840April1,900$1,540May1,800$1,480June2,100$1,660Using the high-low method, the fixed portion of theelectrical cost each month would be?a. $760.b. $190.c. $400.d. $280.

The high-low method is used to estimate the fixed and variable components of a mixed cost. To apply…

Answered: Wilson Company's activity for the first…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EB: A company estimates its manufacturing overhead will be $840,000 for the next year. What is the...

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A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
Standard unit cost and journal entries The normal capacity of Algonquin Adhesives Inc. is 40,000 direct labor hours and 20,000 units per month. A finished unit requires 6 lb of materials at an estimated cost of 2 per pound. The estimated cost of labor is 10.00 per hour. The plant estimates that overhead (all variable) for a month will be 40,000. During the month of March, the plant totaled 34,800 direct labor hours at an average rate of 9.50 an hour. The plant produced 18,000 units, using 105,000 lb of materials at a cost of 2.04 per pound. 1. Prepare a standard cost summary showing the standard unit cost. 2. Make journal entries to charge materials and labor to Work in Process.
Silver Products has presented the following information for the past eight months operations: Month Units Total Cost $ 27,600 $ 26,000 $ 18,500 $ 23,400 $ 26,200 $ 31,150 $ 26,700 $ 25,900 April 8,100 6,500 3,900 5,700 7,100 8,500 7,900 6,900 Мay June July August September October November a. Using the high-low method, calculate the fixed cost per month and variable cost per unit. (Round your variable cost to 2 decimal places.) Fixed Cost Per Month Variable Cost Per Unit b. What would total costs be for a month with 5,100 units produced? (Do not round intermediate calculations.) Total Costs
The table below shows monthly data collected on production costs and on the number of units produced over a twelve month period.Month Total Production Level of Activity Costs (Units Produced) July $230,000 3,500August 250,000 3,750September 260,000 3,800October 220,000 3,400November 340,000 5,800December 330,000 5,500January 200,000 2,900February 210,000 3,300March 240,000 3,600April 380,000 5,900May 350,000…
Please assist with all workings. The table below shows monthly data collected on production costs and on the number ofunits produced over a twelve month period. Month TotalProduction CostsLevel of Activity(Units Produced)July $230,000 3,500August 250,000 3,750September 260,000 3,800October 220,000 3,400November 340,000 5,800December 330,000 5,500January 200,000 2,900February 210,000 3,300March 240,000 3,600April 380,000 5,900May 350,000…
A company has estimated its economic order quantity for Part A at 2,400 units for the coming year. The ordering costs are P200 and carrying costs are P.50 per unit per year. What is the estimated total annual usage?
The table below shows monthly data collected on production costs and on the number of units produced over a twelve month period. Month Total Production cost Lev)el of Activity (Units produce July $230,000 3,500 August 250,000 3,750 Septemer 260,000 3,800 October 220,000 3,400 November 340,000 5,800 December 330,000 5,500 January 200,000 2,900 February 210,000 3,300 March 240,000 3,600 April 380,000 5,900 May 350,000 5,600 June 290,000 5,000 a) Determine the variable cost per unit and the fixed cost using the high-low method.
please answer in 30 minutes.
The table below shows monthly data collected on production costs and on the number of units produced over a twelve month period. Month Discussion Question July August September October November December January February March April May June Total Production Costs $230,000 250,000 260,000 220,000 340,000 330,000 200,000 210,000 240,000 380,000 360,000 290,000 Level of Activity (Units Produced) 3,500 3,750 3,800 3,400 5,800 5,500 2,900 3,300 3,600 5,900 5,600 5,000 a) Determine the variable cost per unit and the fixed cost using the high-low method. b) What is the equation of the total mixed cost function? c) Based on the High-Low method, what is the total production costs if 6,500 units are produced? d) Prepare the scatter diagram and insert the trendline or line of best-lit. Use a scale of 2 cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the y- e) Using the line of best fit delermine the company's lixed cost per month and the variable cost per unit (Use 0 &…
The table below shows monthly data collected on production costs and on the number of units produced over a twelve month period. Month July August Discussion Question September October November December January February March April May June Total Production Costs $230,000 250,000 260,000 220,000 340,000 330,000 200,000 210,000 240,000 380,000 350,000 290,000 Level of Activity (Units Produced) 3,500 3,750 3,800 3,400 5,800 5,500 2,900 3,300 3,600 5,900 5,600 5,000 a) Determine the variable cost per unit and the fixed cost using the high-low method. b) What is the equation of the total mixed cost function? c) Based on the High-Low method, what is the total production costs if 6,500 units are produced? d) Prepare the scatter diagram and insert the trendline or line of best-fit. Use a scale of 2 cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the y- axis. e) Using the line of best-fit, determine the company's fixed cost per month and the variable cost per unit.…
Please answer parts c, d and e

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