High-Low Method- calculation of variable cost per unit | ||||||
Change in cost/ change in volume= (cost at high point-cost at low point)/(volume at high point-volume at low point) | ||||||
=( 7900-2500)/(3600-0)= 5400/3600= $1.50 | ||||||
Variable cost per unit is $1.50 | ||||||
Total cost at the high point | $7900 | |||||
Variable cost at the high point | ||||||
Volume at the high point | 3600 | |||||
variable cost per unit | $1.50 | |||||
Total variable cost at the high point( 3600*1.50) | $5400 | |||||
Total fixed cost( 7900-5400) | $2500 | |||||
Total cost at the low point | $2500 | |||||
Variable cost at the low point | ||||||
Volume at the low point | 0 | |||||
variable cost per unit | $1.50 | |||||
Total variable cost at the low point( 0*1.50) | 0 | |||||
Total fixed cost( 2500-0) | $2500 | |||||
Estimated cost (fixed cost + variable cost ) then variable cost = estimated units* variable cost per unit= 3000*1.5= 4500 Estimated costs = 2500+4500 |
$7,000 |
3 Felix & Co. reports the following information about its units produced and total costs Units...
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Check my work Exercise 18-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following information about its units produced and total costs. Period Period Units Produced 0 530 930 1,330 1,730 Total Costs $2,630 3,230 3,830 4,430 5,030 Oo oovo Units Produced 2,130 2,530 2,930 3,330 3,730 Total Costs $5,630 6,230 6,830 7,430 8,598 Estimate total costs if 3,130 units are produced. Complete the below table to calculate the fixed cost and variable cost of...