Handy’s Hats makes the world’s best hats. Information for the last eight months follows: Month Number...
Handy’s Hats makes the world’s best hats. Information for the last eight months follows:
| Month | Number of Hats Produced | Total Cost | |
| January | 6,750 | $11,300 | |
| February | 5,540 | 10,200 | |
| March | 6,250 | 10,900 | |
| April | 3,500 | 7,100 | |
| May | 8,500 | 12,100 | |
| June | 3,950 | 8,200 | |
| July | 3,900 | 8,100 | |
| August | 4,690 | 9,350 | |
Using the high-low method, calculate the total fixed cost per month and the variable cost per hat. (Round your "Variable Cost per Unit" answer to 3 decimal places.)
|
Homework Answers
| Total Cost | Number of Hats Produced | |
| High level | 12100 | 8500 |
| Low level | 7100 | 3500 |
| Difference | 5000 | 5000 |
| Variable Cost per Unit | 1 | =5000/5000 |
| Fixed Cost | 3600 | =12100-(8500*1) |
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