Question
In: Accounting
The controller of Oriole Industries has collected the following monthly expense data for use in analyzing...
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
Solutions
Expert Solution
| Answer: |
|
Variable cost per unit = (Highest Cost (-) lowest Cost) / ( Highest Hours (-) lowest Hours) = ( $ 5,260 (-) $ 2,860 ) / ( 720 (-) 320) = $ 2,400 / 400 = $ 6 Per unit |
| Variable cost per unit = $ 6 Per unit |
|
Fixed cost
= Highest Cost (-) ( Highest Hours x Variable cost per
unit ) = $ 5,260 (-) ( 720 x $ 6) = $ 5,260 (-) $ 4,320 = $ 940 |
| Fixed cost = $ 940 |
ekkarill92 answered 3 years agoRelated Solutions
The controller of Hall Industries has collected the following monthly expense data for use in analyzing...
The controller of Hall Industries has collected the following
monthly expense data for use in analyzing the cost behavior of
maintenance costs. Month Total Maintenance Costs Total Machine
Hours January $9,500 5,250 February 10,840 6,000 March 15,360 9,000
April 19,984 11,850 May 13,000 7,500 June 20,300 12,000.
1. Determine the variable-cost components using the high-low
method. (Round variable cost to 2 decimal places e.g. 12.25.)
Variable cost per machine hour=
2. Determine the fixed cost components using the high-low
method....
The controller of Hall Industries has collected the following monthly expense data for use in analyzing...
The controller of Hall Industries has collected the following
monthly expense data for use in analyzing the cost behavior of
maintenance costs.
Month
Total
Maintenance Costs
Total
Machine Hours
January
$2,640
3,500
February
3,000
4,000
March
3,600
6,000
April
4,500
7,900
May
3,200
5,000
June
4,620
8,000
Determine the variable-cost components using the high-low
method. (Round answer to 2 decimal places e.g.
2.25.)
Variable cost per machine hour
$enter the variable cost per machine hour in dollars rounded to
2...
he controller of Blossom Industries has collected the following monthly expense data for use in analyzing...
he controller of Blossom Industries has collected the following
monthly expense data for use in analyzing the cost behavior of
maintenance costs.
Month
Total
Maintenance Costs
Total
Machine Hours
January
$2,912
3,860
February
3,309
4,412
March
3,971
6,618
April
4,963
8,714
May
3,530
5,515
June
5,894
8,830
Determine the variable-cost components using the high-low
method.
Determine the fixed cost components using the high-low
method.
The controller of Blossom Industries has collected the following monthly expense data for analyzing the cost...
The controller of Blossom Industries has collected the following
monthly expense data for analyzing the cost behavior of electricity
costs. Total Electricity Costs Total Machine Hours January $1,720
210 February 2,990 320 March 3,560 500 April 4,800 695 May 3,220
500 June 4,930 770 July 4,040 635 August 3,800 570 September 5,050
660 October 4,350 630 November 3,360 320 December 6,150 790
Determine the fixed- and variable-cost components using
regression analysis
The controller of Dousmann Industries has collected the following monthly expense data for use in analysing...
The controller of Dousmann Industries has collected the
following monthly expense data for use in analysing the cost
behavior of maintenance cost.
Month Total Maintenance costs Total Machine
Hours
January 2,750 3,500
February 3,000 4,000
March 3,600 6,000
April 4,500 7,900
May 3,200 5,000
June 5,000 8,000
A) Determine the fixed and variable cost components using the
high low method.
B) Prepare a graph showing the behavior of maintenance costs,
and identify the fixed and variable elements. Use 2,000- hour...
The controller of Blossom Production has collected the following monthly expense data for analyzing the cost...
The controller of Blossom Production has collected the following
monthly expense data for analyzing the cost behavior of electricity
costs.
Total
Electricity Costs
Total
Machine Hours
January
$2,660
230
February
3,050
330
March
3,520
460
April
4,770
690
May
3,190
420
June
4,960
790
July
4,030
650
August
3,870
590
September
5,040
670
October
4,270
610
November
3,260
330
December
8,460
810
(a)
Determine the fixed- and variable-cost components using the
high-low method.
Fixed-costs
$
Variable-costs
$
eTextbook and Media...
The controller of Blossom Production has collected the following monthly expense data for analyzing the cost...
The controller of Blossom Production has collected the following
monthly expense data for analyzing the cost behavior of electricity
costs.
Total
Electricity Costs
Total
Machine Hours
January
$2,660
230
February
3,050
330
March
3,520
460
April
4,770
690
May
3,190
420
June
4,960
790
July
4,030
650
August
3,870
590
September
5,040
670
October
4,270
610
November
3,260
330
December
6,720
810
What electricity cost does the cost equation estimate for a
level of activity of 790 machine hours?
Electricity...
Shirley industries is analyzing an average risk project, and the following data has been developed. Annual...
Shirley industries is analyzing an average risk project, and the
following data has been developed. Annual unit sales will be
constant but the sales price will increase with inflation which is
to be 5%. Fixed costs will also be constant but variable costs will
rise with inflation. The project involved buying a $100,000 piece
of equipment that will last for 3 years and be straight lined
depreciated to zero. At the end of of the project there will be a...
In reviewing activity for July, the controller of Mathis, Inc., collected the following data concerning direct...
In reviewing activity for July, the controller of Mathis, Inc.,
collected the following data concerning direct materials. Actual
production 103,000 units Direct materials purchased (actual) $
1,642,800 Standard cost of materials purchased 1,554,000 Standard
direct materials costs per unit produced 14 Standard price times
actual amount of materials used 1,405,950 Assume that Mathis
Company had no beginning finished goods inventory and only produced
one product. Mathis sold 90,640 units during the period. Required:
a. Assume Mathis writes off all variances...
n reviewing activity for July, the controller of Mathis, Inc., collected the following data concerning direct...
n reviewing activity for July, the controller of Mathis, Inc.,
collected the following data concerning direct materials.
Actual production
116,000
units
Direct materials purchased (actual)
$
1,954,800
Standard cost of materials purchased
1,580,000
Standard direct materials costs per unit produced
14
Standard price times actual amount of materials used
1,431,950
Assume that Mathis Company had no beginning finished goods
inventory and only produced one product. Mathis sold 102,080 units
during the period.
Required:
a. Assume Mathis writes off all variances...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Mobile and wireless devices are being increasingly used in the Business Administration and Management Industry. write...
- What are the options that might be considered in relation to introducing flexible work practices? What...
- Question 2 : Aggregate Scores: Write a program that opens 2 files, quiz.txt, and hw.txt. The...
- Define the term symbiosis specifically as it applies in a biological context. Compare and contrast parasitism,...
- A research team conducted a study showing that approximately 20% of all businessmen who wear ties...
- Research the internet for companies that have executed data science projects. Pick one company and describe...
- Explain two theories or frameworks for understanding how Western Europe emerged out of 1,000 years of...
ADVERTISEMENT