The manufacturing costs of Heather Industries for three months of the year are provided below. Total...
The manufacturing costs of Heather Industries for three months of the year are provided below.
| Total Costs | Production | |||
| January | $140,400 | 585 | units | |
| February | 175,810 | 1,160 | ||
| March | 218,400 | 1,885 | ||
Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost. Round all answers to the nearest whole dollar.
| a. Variable cost per unit | $ |
| b. Total fixed cost | $ |
Homework Answers
| a) | Variable cost per activity = (highest cost - lowest cost)/ (highest activities- lowest activities) | |||||||
| =($218400-140400)/(1885-585) | ||||||||
| =$78000/1300 | ||||||||
| =$60 | ||||||||
| b) | Total cost = Variable cost + fixed cost | |||||||
| $140400 = (585*$60) + Fixed cost | ||||||||
| $140400 =35100 + fixed cost | ||||||||
| Fixed cost =$105300 | ||||||||
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