Oak Island Amusements Center provides the following data on the costs of maintenance and the number...
Oak Island Amusements Center provides the following data on the costs of maintenance and the number of visitors for the last three years.
| Number of Visitors per Year(thousands) | Maintenance Costs ($000) |
||||
| 1,860 | $ | 3,322 | |||
| 2,040 | 3,655 | ||||
| 2,900 | 5,090 | ||||
Required:
a. Use the high-low method to estimate the fixed cost of maintenance annually and the variable cost of maintenance per visitor.
b. The company expects a record 2,600,000 visitors next year. What would be the estimated maintenance costs?
Use the high-low method to estimate the fixed cost of maintenance annually and the variable cost of maintenance per visitor.
| Variable cost per visitor. | |
| Annual fixed cost |
|
Homework Answers
Variable cost per visitors:
= ($5,090 - $3,322) / (2,900 - 1,860)
= $1.70
Annual fixed cost:
= $5,090,000 - ($1.70 X 2,900,000)
= $160,000
Estimated maintenance cost:
= ($1.70 X 2,600,000) + $160,000
= $4,580,000
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Oak Island Amusements Center provides the following data on the
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Oak Island Amusements Center provides the following data on the costs of maintenance and the number...
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August
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48,048
September
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October
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November
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December
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Oak Island Amusements Center provides the following data on the costs of maintenance and the number of visitors for the last three years. Maintenance Costs ($000) $ 3,547 Number of Visitors per Year(thousands) 1,865 2,045 3,400 3,898 6,310 Required: a. Use the high-low method to estimate the fixed cost of maintenance annually and the variable cost of maintenance per visitor. b. The company expects a record 2,700,000 visitors next year. What would be the estimated maintenance costs? Complete this question...
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please help me get this right :/
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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 Maintenance Cost $5,450 6,900 5, 100 6,000 6,900 8, 100 3,600 60 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. Change in cost Change in volume High-Low method - Calculation of variable cost per maintenance hour Cost at high point minus cost...
Bridgeport Corp. has collected the following data concerning its maintenance costs for the past 6 months. Units Produced Total Cost July 17,000 $38,950 August 34,000 61,300 September 38,000 69,500 October 22,000 44,200 November 40,000 86,100 December 38,000 82,000 Compute the variable cost per unit using the high-low method. (Round variable cost per mile to 2 decimal places e.g. 1.25.) Variable cost per unit $ e Textbook and Media Compute the fixed cost elements using the high-low method. Fixed costs $
Blossom Corp. has collected the following data concerning its
maintenance costs for the past 6 months.
Units Produced
Total Cost
July
18,020
$41,545
August
32,032
48,048
September
36,036
55,055
October
22,022
42,358
November
40,040
74,575
December
38,038
62,062
Compute the variable cost per unit using the high-low method.
(Round answer to 2 decimal places, e.g.
2.25.)
Variable cost per unit
$
Compute the fixed cost elements using the high-low
method.
Fixed costs
$
Markowis Corp. has collected the following data concerning its maintenance costs for the past 6 months. Total Cost July August September October Units Produced 21,546 38,304 43,092 26,334 47,880 45,486 $43,092 57,456 65,835 45,486 89,176 74,214 November December Compute the variable cost per unit using the high-low method. (Round variable cost per mile to 2 decimal places e.g. 1.25.) Variable cost per units LINK TO TEXT INTERACTIVE TUTORIAL Compute the fixed cost elements using the high-low method. Fixed costs
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