Bruno Company accumulates the following data concerning a mixed
cost, using miles as the activity level.
Miles |
Total |
Miles |
Total |
|||||||
January | 7,995 | $14,200 | March | 8,510 | $15,010 | |||||
February | 7,510 | 13,510 | April | 8,195 | 14,495 |
Compute the variable cost per mile using the high-low method.
(Round variable cost per mile to 2 decimal places e.g.
1.25.)
Variable cost per mile | $ |
Compute the fixed cost elements using the high-low
method.
Fixed costs | $ |
Answer
Months |
Units |
Cost |
|
High Level |
Mar |
8,510 |
$ 15,010.00 |
Low Level |
Feb |
7,510 |
$ 13,510.00 |
Difference |
1,000 |
$ 1,500.00 |
|
A |
Difference in Cost |
$ 1,500.00 |
|
B |
Difference in units |
1,000 |
|
C = A/B |
Variable cost per unit |
$ 1.500 |
|
Working |
High Level |
Low Level |
|
A |
Total Cost |
$ 15,010.00 |
$ 13,510.00 |
B |
Total Units |
8510 |
7510 |
C |
Variable cost per unit |
$ 1.50 |
$ 1.50 |
D = B x C |
Total Variable cost |
$ 12,765.00 |
$ 11,265.00 |
E = A - D |
Total Fixed Cost |
$ 2,245.00 |
$ 2,245.00 |
Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level....
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