Homework Answers
Answers:
A) A Quantitative Estimate of Both total fixed cost and the Variable cost per unit of the cost driver.
C) $9.33
A) Total Cost = Total Fixed cost +( Variable rate *Units of Output)
the Purpose of the Cost equation to Estimate the Total Fixed cost and as well as the PEr Unit Variable rate. with the Cost, Equation total cost will be Estimated at the Difference levels of the Output.
B) Variable cost Per Unit = Difference in cost / Difference in Units
=(8,800-3,200) / (1200-600)
Cost Formula
Y= A+BX
Y= Total cost
A= Fixed cost
B= Variabel rate
X=Units
Add Answer to:
The purpose of creating a cost formula is to provide: a. a quantitative estimate of both...
Turquoise Company manufactures travel bags. The high output occurred in May, with 1,000 units produced at...
Turquoise Company manufactures travel bags. The high output occurred in May, with 1,000 units produced at a total cost of $8,200. The low output was in January, with 600 units produced at a total cost of $3,200. Determine the variable rate by using the high and low points 55:33 b. 55.00 C. 58.20 12.50 Which of the following costs is classified as a period cost under variable costing? a. Variable manufacturing overhead b. The cost of direct materials c. Fixed...
The cost of purchase of plant and equipment is an example of a(n): a. unavoidable variable...
The cost of purchase of plant and equipment is an example of a(n): a. unavoidable variable cost. O b. committed fixed cost. c. discretionary variable cost. d. discretionary fixed cost. The purpose of creating a cost formula is to provide: Oa. a quantitative estimate of only the total fixed costs of the cost drivers. Ob. a qualitative estimate of only the variable cost per unit of the cost drivers. Oc. a quantitative estimate of both total fixed costs and the...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Total Costs $25,100,000 Units Produced 80,000 92,000 120,000 27,206,000 32,120,000 a. Determine the variable cost per unit and the total fixed cost. Variable cost (Round to two decimal places.) per unit Total fixed cost b. Based on part (a), estimate the total cost...
High-Low Method Shatner Inc. has decided to use the high-low method to estimate the total cost...
High-Low Method Shatner Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 5,800 $694,400 1,800 446,400 3,720 673,070 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) $ per unit Total fixed cost: $ b. Based on part (a), estimate the...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 1,690 $177,840 2,630 268,140 4,290 276,640 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) $ per unit Total fixed cost: $ b. Based on part (a), estimate the...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 2,280 $376,200 4,350 480,700 6,080 585,200 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) per unit 4 Total fixed cost: जी b. Based on part (a), estimate the...
Shatner Inc. has decided to use the high-low method to estimate the total cost and the...
Shatner Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 6,800 $537,600 4,420 432,770 2,800 345,600 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) per unit Total fixed cost: b. Based on part (a), estimate the total cost for 3,460...
Ziegler Inc. has decided to use the high-low method to estimate the total cost and the...
Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 1,755 $273,780 3,330 328,840 5,655 425,880 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) $ per unit Total fixed cost: $ b. Based on part (a), estimate the total cost...
The following information is available for a company's maintenance cost over the last seven months. Maintenance...
The following information is available for a company's maintenance cost over the last seven months. Maintenance Cost $ 5,550 8,430 Month June July August September October November December Units Produced 100 190 110 140 200 230 50 5,870 6,830 8,750 9,710 3,950 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per maintenance hour Total cost at the high point Variable costs at the high point: Volume...
please help The following information is available for a company's maintenance cost over the last seven...
please help
The following information is available for a company's maintenance cost over the last seven months. Month June July August September October November December Units Produced 90 180 120 150 210 240 60 Maintenance Cost $ 4,830 7,620 5,760 6,690 8,550 9,480 3,900 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per maintenance hour Total cost at the high point Variable costs at the high...
Turquoise Company manufactures travel bags. The high output occurred in May, with 1,000 units produced at a total cost of $8,200. The low output was in January, with 600 units produced at a total cost of $3,200. Determine the variable rate by using the high and low points 55:33 b. 55.00 C. 58.20 12.50 Which of the following costs is classified as a period cost under variable costing? a. Variable manufacturing overhead b. The cost of direct materials c. Fixed...
The cost of purchase of plant and equipment is an example of a(n): a. unavoidable variable cost. O b. committed fixed cost. c. discretionary variable cost. d. discretionary fixed cost. The purpose of creating a cost formula is to provide: Oa. a quantitative estimate of only the total fixed costs of the cost drivers. Ob. a qualitative estimate of only the variable cost per unit of the cost drivers. Oc. a quantitative estimate of both total fixed costs and the...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Total Costs $25,100,000 Units Produced 80,000 92,000 120,000 27,206,000 32,120,000 a. Determine the variable cost per unit and the total fixed cost. Variable cost (Round to two decimal places.) per unit Total fixed cost b. Based on part (a), estimate the total cost...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 2,280 $376,200 4,350 480,700 6,080 585,200 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) per unit 4 Total fixed cost: जी b. Based on part (a), estimate the...
Shatner Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 6,800 $537,600 4,420 432,770 2,800 345,600 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) per unit Total fixed cost: b. Based on part (a), estimate the total cost for 3,460...
The following information is available for a company's maintenance cost over the last seven months. Maintenance Cost $ 5,550 8,430 Month June July August September October November December Units Produced 100 190 110 140 200 230 50 5,870 6,830 8,750 9,710 3,950 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per maintenance hour Total cost at the high point Variable costs at the high point: Volume...
please help
The following information is available for a company's maintenance cost over the last seven months. Month June July August September October November December Units Produced 90 180 120 150 210 240 60 Maintenance Cost $ 4,830 7,620 5,760 6,690 8,550 9,480 3,900 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per maintenance hour Total cost at the high point Variable costs at the high...
Most questions answered within 3 hours.
-
Your friend tells you that there is a vending machine on campus
that dispenses M&M packs...
asked 1 minute from now -
7. The life of a Freeze Breeze electric fan is normally
distributed with a mean 4...
asked 18 seconds from now -
1. A 751 mL NaCl solution is diluted to a volume of 1.06 L and a...
asked 4 minutes ago -
8
A $20,000 face value STRIPS is currently quoted at 38.642 and
has 8 years to...
asked 4 minutes ago -
The current exchange rate between the Japanese yen and
the US dollar is 120 yen per...
asked 6 minutes ago -
Marla’s Massages and More bought a special massage table two
years ago for $9,300. At the...
asked 14 minutes ago -
Suppose you require a peak output voltage of 15.0 V and have
available an AC source...
asked 14 minutes ago -
We
conduct A study to estimate the mean age of the population of women
at the...
asked 25 minutes ago -
.13 : Assume that we make an enhancement to a computer that
improves some mode of...
asked 27 minutes ago -
4)
Find the tension in an elevator cable if the 1000 kg elevator is
descending with...
asked 33 minutes ago -
A random sample of 51 newborn babies was taken at the Hospital.
The sample mean was...
asked 31 minutes ago -
Industry standards suggest that 16% of new vehicles require
warranty service within the first year. Jones...
asked 42 minutes ago