Homework Answers
Answer 15 Scattergraph method and regression analysis
as
Under scattergraph method the whole data is plotted on the graph and shown in points for drawing line of best fit we use least square method or regression analysis
all other methods given in other options are not used to get line of best fit
Answer 16 Calculating the fixed cost per unit
as
all the options describe the steps used in high low point method like calculaion of variable cost per unit, identification of high low points and stating the result in equation but it never is used to calculate fixed cost per unit hence answer is the fixed cost per unit
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Question 15 2 pts Which of the following approaches for estimating fixed and variable costs using...
A. 1. Using account analysis, what was the accountant's estimate of total fixed costs for October? ...
A.
1. Using account analysis, what was the accountant's estimate of
total fixed costs for October?
2. Using account analysis, what was the accountant's estimate of
total variable costs for October?
B.
1. Using the high-low method, what was the accountant's estimate
of total fixed costs for October?
2. Using the high-low method, what was the accountant's estimate of
variable costs per unit for October?
Mears Production Company makes several products and sells them for an average price of $70....
2. 3. LULU with the fleet of trucks. Express the variable and fixed costs in the...
2. 3. LULU with the fleet of trucks. Express the variable and fixed costs in the form Y = a +bX. If a truck were driven 80,000 kilometers during a year, what total oper expect to be incurred? a year, what total operating cost would you EXERCISE 5A-4 High-Low Method; Scattergraph Analysis L05-10 Archer Company is a wholesaler of custom-built air-conditioning unit It gathered the following monthly data relating to units shipped and total shipping m-built air-conditioning units for commercial...
. Which of the following is NOT a technique used to estimate cost behavior (i.e., fixed...
. Which of the following is NOT a technique used to estimate cost behavior (i.e., fixed and variable cost)? Account classification Visual inspection of scatterplot graph Linear regression analysis High-Low method All of the above are methods of estimating cost behavior None of the above are methods of estimating cost behavior
Exercise 2-16A Estimating fixed and variable costs using the high-low method LO 2-6 Benson Boat Company...
Exercise 2-16A Estimating fixed and variable costs using the high-low method LO 2-6 Benson Boat Company makes inexpensive aluminum fishing boats. Production is seasonal, with considerable activity occurring in the spring and summer. Sales and production tend to decline in the fall and winter months. During 2019, the high point in activity occurred in June when it produced 202 boats at a total cost of $145,800. The low point in production occurred in January when it produced 39 boats at...
Exercise 2-16A Estimating fixed and variable costs using the high-low method LO 2-6 Walton Boat Company...
Exercise 2-16A Estimating fixed and variable costs using the high-low method LO 2-6 Walton Boat Company makes inexpensive aluminum fishing boats. Production is seasonal, with considerable activity occurring in the spring and summer. Sales and production tend to decline in the fall and winter months. During 2019, the high point in activity occurred in June when it produced 209 boats at a total cost of $160,360. The low point in production occurred in January when it produced 31 boats at...
Question 7 2 pts Regression analysis and the high-low method often result in the same fixed...
Question 7 2 pts Regression analysis and the high-low method often result in the same fixed and variable cost estimates because both approaches use the same data. True False Question 8 2 pts All costs behave in a linear manner. True False Question 9 2 pts The contribution margin is calculated by taking total sales revenue minus total fixed costs. True False
Estimating Fixed and Variable Cost Per Unit Using Regression The management of Rutledge Corporation would like...
Estimating Fixed and Variable Cost Per Unit Using Regression The management of Rutledge Corporation would like to better understand the behavior of the company's warranty costs. Those costs are listed below for a number of recent months: Product Returns Warranty Cost March..................... 30 $3,648 April....................... 37 $4,074 May........................ 43 $4,460 June........................ 41 $4,330 July......................... 32 $3,756 August.................... 48 $4,782 September.............. 35 $3,932 October.................. 33 $3,823 Management believes that warranty cost is a mixed cost that depends on the number...
Odessa, Inc., manufactures one model of computer desk. The following data are available regarding units shipped...
Odessa, Inc., manufactures one model of computer desk. The following data are available regarding units shipped and total shipping costs: Number Total of Units Shipping Cost Month Shipped 3500 2.500 February 75 March 45 June July 80 4.000 50 3,450 Required: 1. Prepare a scattergraph of Odessa's shipping cost and draw the line you believe best fits the data. Instructions: 1. Use the point tool (7 points) to plot each Units Shipped / Total cost combination. 2. To enter exact...
1. What is the difference between variable and fixed costs? Also, explain how the total variable...
1. What is the difference between variable and fixed costs? Also, explain how the total variable cost and total fixed cost is affected by increasing the number of units produced? What happens to the total variable cost per unit and total fixed cost per unit? 3. What is a mixed cost? 2. The high-low method of analyzing mixed costs uses only two observation points: the high and low points of activity. Are these always the best points for prediction purposes?...
M5-17 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Baker Company produced 2,300 units in...
M5-17 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Baker Company produced 2,300 units in May at a total cost of $10,600 and 5,300 units in June at a total cost of $20,320. Compute the variable cost per unit and the total fixed cost using the high-low method. (Round your "Variable Cost per Unit" answer to 2 decimal places and "Fixed Cost" answer to the nearest dollar amount.) Variable cost per unit Total fixed cost
A.
1. Using account analysis, what was the accountant's estimate of
total fixed costs for October?
2. Using account analysis, what was the accountant's estimate of
total variable costs for October?
B.
1. Using the high-low method, what was the accountant's estimate
of total fixed costs for October?
2. Using the high-low method, what was the accountant's estimate of
variable costs per unit for October?
Mears Production Company makes several products and sells them for an average price of $70....
2. 3. LULU with the fleet of trucks. Express the variable and fixed costs in the form Y = a +bX. If a truck were driven 80,000 kilometers during a year, what total oper expect to be incurred? a year, what total operating cost would you EXERCISE 5A-4 High-Low Method; Scattergraph Analysis L05-10 Archer Company is a wholesaler of custom-built air-conditioning unit It gathered the following monthly data relating to units shipped and total shipping m-built air-conditioning units for commercial...
Exercise 2-16A Estimating fixed and variable costs using the high-low method LO 2-6 Benson Boat Company makes inexpensive aluminum fishing boats. Production is seasonal, with considerable activity occurring in the spring and summer. Sales and production tend to decline in the fall and winter months. During 2019, the high point in activity occurred in June when it produced 202 boats at a total cost of $145,800. The low point in production occurred in January when it produced 39 boats at...
Exercise 2-16A Estimating fixed and variable costs using the high-low method LO 2-6 Walton Boat Company makes inexpensive aluminum fishing boats. Production is seasonal, with considerable activity occurring in the spring and summer. Sales and production tend to decline in the fall and winter months. During 2019, the high point in activity occurred in June when it produced 209 boats at a total cost of $160,360. The low point in production occurred in January when it produced 31 boats at...
Question 7 2 pts Regression analysis and the high-low method often result in the same fixed and variable cost estimates because both approaches use the same data. True False Question 8 2 pts All costs behave in a linear manner. True False Question 9 2 pts The contribution margin is calculated by taking total sales revenue minus total fixed costs. True False
Odessa, Inc., manufactures one model of computer desk. The following data are available regarding units shipped and total shipping costs: Number Total of Units Shipping Cost Month Shipped 3500 2.500 February 75 March 45 June July 80 4.000 50 3,450 Required: 1. Prepare a scattergraph of Odessa's shipping cost and draw the line you believe best fits the data. Instructions: 1. Use the point tool (7 points) to plot each Units Shipped / Total cost combination. 2. To enter exact...
M5-17 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Baker Company produced 2,300 units in May at a total cost of $10,600 and 5,300 units in June at a total cost of $20,320. Compute the variable cost per unit and the total fixed cost using the high-low method. (Round your "Variable Cost per Unit" answer to 2 decimal places and "Fixed Cost" answer to the nearest dollar amount.) Variable cost per unit Total fixed cost
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