Homework Answers
Answer:
a)
From the month, observe that the highest order processing cost s
144840
The lowest order processing cost is 51720
Therefore the cost estimating equation for monthly order processing
costs is
VC = Difference between highest and lowest order processing costs /
Difference between highest and lowest sales orders
=(144840-51720)/ (4400-1200)
=93120/3200
=29.1
FC = Highest order sales - Order processing costs x Lowest order
processing cost
=51720- (29.1) (1200)
=51720-34920
=16800
Hence the equation is Monthly order processing costs = 16800+29.10X
b)
From the month observe that the second highest order processing
cost is 99240
The lowest order processing cost is 51720
The second highest and lowest sales order are 3000 and 1200
Therefore, the cost estimating equation for monthly order
processing costs is
VC = Difference between highest and lowest order processing costs /
Difference between highest and lowest sales orders
VC = (99240-51720)/(3000-1200)
=47520/1800
=26.4
FC =Highest order sales - Order processing costs x Lowest order
processing cost
=51720-(26.4)(1200)
=51720-31680
=20040
Hence, the equation is monthly order processing costs = $20040 + 26.4X
Add Answer to:
Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on...
Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on...
Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 3,000 $ 82,700 1,500 50,375 4,400 120,700 2,800 2,300 1,200 2,000 81,900 69,775 43,100 62,500 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. = $ 14,000 ~ +$ 24.25 ♥ (b.) Plot the data on a scatter diagram. Using...
Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on...
Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 3,000 $ 82,700 1,500 50,375 4,400 120,700 2,800 81,900 2,300 69,775 1,200 43,100 2,000 62,500 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. x + $ (b.) Plot the data on a scatter diagram. Using the information from representative...
Assume the local Pearle Vision has the following information on the number of sales orders received...
Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 3,000 $ 82,700 1,500 50,375 4,400 120,700 2,800 81,900 2,300 69,775 1,200 43,100 2,000 62,500 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. = $ + $ (b.) Plot the data on a scatter diagram. Using the information from representative high-and low-volume months, develop a...
Assume the local Pearle Vision has the following information on the number of sales orders received...
Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 1 3,000 $ 99,240 2 1,500 60,450 3 4,400 144,840 4 2,800 98,280 5 2,300 83,730 6 1,200 51,720 7 2,000 75,000 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. Answer Answer (b.) Plot the data on a scatter diagram. Using the information from representative...
Scatter Diagrams and High-Low Cost Estimation From April 1 through October 31, Coles County Highway Department...
Scatter Diagrams and High-Low Cost Estimation From April 1 through October 31, Coles County Highway Department hires temporary employees to mow and clean the right-of-way along county roads. The County Road Commissioner has asked you to help her in determining the variable labor cost of mowing and cleaning a mile of road. The following information is available regarding current-year operations: Month April May June Miles Mowed Labor and Cleaned Costs 350 $9,600 300 8,800 400 10,400 250 8,000 375 10,000...
High-Low Cost Estimation Assume the local YRC Worldwilde delivery service hub has the following information available...
High-Low Cost Estimation Assume the local YRC Worldwilde delivery service hub has the following information available about fleet miles and operating costs: Year Miles Operating Costs 2017 556,000 $175,600 2018 684,000 214,000 Use the high-low method to develop a cost-estimating equation for total annual operating costs. (Let X = annual fleet miles.) Total annual costs = Answer + Answer * X
5. Scatter Diagram (10 Points). Used the scatter diagram below and develop a cost-estimating equation for...
5. Scatter Diagram (10 Points). Used the scatter diagram below and develop a cost-estimating equation for month production costs. 25000 20000 15000 Order-Processing Costs 10000 5000 o 0 200 400 600 800 1000 1200 14 Sales Orders
Exercise 18-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following...
Exercise 18-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following Information about its units produced and total costs. points Units Produced Period Period Total Costs $2,700 3,300 3,980 4.500 608 1.ece 1.489 1.800 Units Produced 2,200 2.680 3.898 3,480 3,888 Total Costs $5.799 6,300 6,988 7.500 9. 160 eBook 5.100 le Hint Estimate total costs of 3.200 units are produced. Complete the below table to calculate the fixed cost and variable cost of sales...
Exercise 21-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following...
Exercise 21-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following information about its units produced and total costs. Units Produced Period 1 2 3 4 5 410 810 1,210 1,610 Total Costs $2,510 3,110 3,710 4,310 4,910 Period 6 7 8 9 Units Produced 2,010 2,410 2,810 3,210 3,610 Total Costs $5,510 6,110 6,710 7,310 8,286 LO Estimate total costs if 3,010 units are produced. Complete the below table to calculate the fixed cost...
Exercise 18-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following...
Exercise 18-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following information about its units produced and total costs. Units Units Period Period Produced Produced Total Costs Total Costs $2,630 3,230 3,830 4,430 5,030 2,130 2,530 2,930 3,330 3,730 $5,630 6,230 6,830 7,430 8,598 1 0 6 2 530 7 3 930 8 1,330 1,730 4 5 10 Estimate total costs if 3,130 units are produced. Complete the below table to calculate the fixed cost...
Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 3,000 $ 82,700 1,500 50,375 4,400 120,700 2,800 2,300 1,200 2,000 81,900 69,775 43,100 62,500 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. = $ 14,000 ~ +$ 24.25 ♥ (b.) Plot the data on a scatter diagram. Using...
Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 3,000 $ 82,700 1,500 50,375 4,400 120,700 2,800 81,900 2,300 69,775 1,200 43,100 2,000 62,500 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. x + $ (b.) Plot the data on a scatter diagram. Using the information from representative...
Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 3,000 $ 82,700 1,500 50,375 4,400 120,700 2,800 81,900 2,300 69,775 1,200 43,100 2,000 62,500 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. = $ + $ (b.) Plot the data on a scatter diagram. Using the information from representative high-and low-volume months, develop a...
Scatter Diagrams and High-Low Cost Estimation From April 1 through October 31, Coles County Highway Department hires temporary employees to mow and clean the right-of-way along county roads. The County Road Commissioner has asked you to help her in determining the variable labor cost of mowing and cleaning a mile of road. The following information is available regarding current-year operations: Month April May June Miles Mowed Labor and Cleaned Costs 350 $9,600 300 8,800 400 10,400 250 8,000 375 10,000...
5. Scatter Diagram (10 Points). Used the scatter diagram below and develop a cost-estimating equation for month production costs. 25000 20000 15000 Order-Processing Costs 10000 5000 o 0 200 400 600 800 1000 1200 14 Sales Orders
Exercise 18-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following Information about its units produced and total costs. points Units Produced Period Period Total Costs $2,700 3,300 3,980 4.500 608 1.ece 1.489 1.800 Units Produced 2,200 2.680 3.898 3,480 3,888 Total Costs $5.799 6,300 6,988 7.500 9. 160 eBook 5.100 le Hint Estimate total costs of 3.200 units are produced. Complete the below table to calculate the fixed cost and variable cost of sales...
Exercise 21-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following information about its units produced and total costs. Units Produced Period 1 2 3 4 5 410 810 1,210 1,610 Total Costs $2,510 3,110 3,710 4,310 4,910 Period 6 7 8 9 Units Produced 2,010 2,410 2,810 3,210 3,610 Total Costs $5,510 6,110 6,710 7,310 8,286 LO Estimate total costs if 3,010 units are produced. Complete the below table to calculate the fixed cost...
Exercise 18-6 Cost behavior estimation-scatter diagram and high-low LO P1 Felix & Co. reports the following information about its units produced and total costs. Units Units Period Period Produced Produced Total Costs Total Costs $2,630 3,230 3,830 4,430 5,030 2,130 2,530 2,930 3,330 3,730 $5,630 6,230 6,830 7,430 8,598 1 0 6 2 530 7 3 930 8 1,330 1,730 4 5 10 Estimate total costs if 3,130 units are produced. Complete the below table to calculate the fixed cost...
Most questions answered within 3 hours.
-
Problem: The equilibrium constant, Keq, is 5 x 10^-11 m HCO3
<-----------> H^+ + CO3^-2 Calculate...
asked 1 minute ago -
Explain how blackbody radiation led to the idea of "quanta."
Will rate answer!
asked 7 minutes ago -
Two noble gases (Ne and He) are injected into the chambers of an
insulated container. Each...
asked 1 minute ago -
Suppose you purchase a zero coupon bond with a face value of
$1,000, maturing in 18...
asked 6 minutes ago -
Do you believe that the $785,000 amount at the center of the
Overstock-Grant Thornton dispute was...
asked 7 minutes ago -
Find and , the mean and standard deviation of the
sampling distribution of :
μ = 25,...
asked 31 minutes ago -
According to the manufacturer of a certain candy, 9% of the
candy produced are red. If...
asked 50 minutes ago -
A Eucher Deck consists of 24 cards. In a four- player game, each
player is dealt...
asked 1 hour ago -
This is a challenging question.
The titration of an impure sample of KHP found that 36.00...
asked 1 hour ago -
1. Starting from rest, an automatic subway train is controlled
by a computer
that causes it’s...
asked 31 minutes ago -
You place a block of
ice (mass of 3 kg) into a test chamber filled with...
asked 1 hour ago -
If a benzene ring has one -CF3 group as a
substituent, will the next substituent add...
asked 56 minutes ago