Homework Answers
Answer to Brief Exercise 18-04:
Highest total cost = $14,790
Highest miles driven = 8,500
Lowest total cost = $13,490
Lowest miles driven = 7,500
Variable cost per mile = (Highest total cost - Lowest total
cost) / (Highest miles driven - Lowest miles driven)
Variable cost per mile = ($14,790 - $13,490) / (8,500 -
7,500)
Variable cost per mile = $1.30
Fixed costs = Highest total cost - Variable cost per mile *
Highest miles driven
Fixed costs = $14,790 - $1.30 * 8,500
Fixed costs = $3,740
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Brief Exercise 18-04
Crane Company accumulates the following data concerning a mixed
cost, using miles as the activity level.
Miles
Driven
Total
Cost
Miles
Driven
Total
Cost
January
7,995
$14,200
March
8,550
$14,987
February
7,490
13,503
April
8,200
14,490
Compute the variable cost per mile using the high-low method.
(Round answer to 2 decimal places, e.g.
2.25.)
Variable cost per mile
$
Compute the fixed cost elements using the high-low
method.
Fixed costs
$
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Brief Exercise 18-04
Crane Company accumulates the following data concerning a mixed
cost, using miles as the activity level.
Miles
Driven
Total
Cost
Miles
Driven
Total
Cost
January
7,995
$14,200
March
8,550
$14,987
February
7,490
13,503
April
8,200
14,490
Compute the variable cost per mile using the high-low method.
(Round answer to 2 decimal places, e.g.
2.25.)
Variable cost per mile
$
Compute the fixed cost elements using the high-low
method.
Fixed costs
$
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alternative 1 is?
Break even point for alternative two is?
Problem 18-4A a-b (Part Level Submission) (Video) Carla Vista Corp.'s sales slumped badly in 2020. For the first time in its history, it operated at a loss. The company's income statement showed the following results from selling 585,500 units of product: sales $2,927,500, total costs and expenses $3,036,000, and net loss $108,500. Costs and expenses consisted of the amounts shown below. Cost of goods sold Selling...
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