Please fill out this chart (1) Use the high-low method to estimate the fixed and variable components of total costs.(2) Estimate total costs if 3,000 units are produced.High-Low method - Calculation of variable cost per unitHigh-Low method - Calculation of fixed costsTotal cost at the highest volumeVariable costs at highest volumeHighest volumeVariable cost per unitTotal variable costs at highest volumeTotal fixed costsTotal cost at the lowest volumeVariable costs at lowest volumeLowest volumeVariable cost per unitTotal variable costs at lowest volumeTotal fixed costs(2) Estimated cost if 3,000 units are produced:Estimated total cost Required informationUse the following information for the Exercises below. (Algo)[The following information applies to the questions displayed below.]cFelix & Company reports the following information.PeriodUnits Produced Total Costs12345678000$ 3,0006004,0201,2005,0401,8006,0602,4007,0803,0008,1003,6009,1204,20010,14094,80011,1605,40012,180

Step 1:Answer 1 and 2Using the high-low method, High point = 5,400 units with total costs of…

Answered: (1) Use the high-low method to estimate…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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uired intor Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. Units Produced Total Costs $ 2,515 3,235 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 Period 1 2 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 4 6. 7 10 Exercise 18-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. High-Low method - Calculation of variable cost per unit High-Low method - Calculation of fixed costs Total cost at the high point Variable costs at the high point Volume at the high point Variable cost per unit Total variable costs at the high point Total fixed costs Total cost at the low point Variable costs at the low point Volume at the low point Variable cost per unit Total variable costs at the low point Total fixed costs (2)…
Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Total Costs $ 2,515 3,235 Y= 1234567899 10 Units Produced 0 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. X
Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. Units Produced Total Costs $ 2,515 3,235 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 Period 1 2 400 800 4 6. 7 8 9. 1,200 1,600 2,000 2,400 2,800 3,200 3,600 10 Exercise 18-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. X Answer is not complete. High-Low method - Calculation of variable cost per unit Variable cost per Cost at high point minus cost at low point $ 8,995 $ 1.14 unit = Cost at low point minus cost at high point 7,915 X High-Low method - Calculation of fixed costs Total cost at the high point 2$ 8,995 Variable costs at the high point Volume at the high point 2 X units Variable cost per unit $ 1.14 Total variable costs at the high point Total…
! Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period 1 Units Produced Total Costs 0 $ 2,820 123456789 200 3,660 400 4,500 600 5,340 800 6,180 1,000 7,020 1,200 7,860 1,400 8,700 1,600 9,540 10 1,800 10,380 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 2,820 units are produced.
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A% merica AS... rk i Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) $ 150.00 98.00 Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 51,000 units per quarter. The following additional information is available. 49.00 63.00 $360.00 70% 35,700 249,900 Direct materials (1,377,000 pounds @ $5.00 per pound)…
ngageNOWv2 | Online teachin X + om/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... € Compute conversion costs given the following data: direct materials, $363,600; direct labor, $192,400; factory overhead, $204,500 and selling expenses, $35,600. Oa. $396,900 Ob. $568.100 Oc. $168,900 Od. $760,500 8 5/2
Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period 1 Units Produced Total Costs $ 2,515 3,235 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 400 3 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 6. 7 10 Exercise 18-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. Answer is not complete. High-Low method - Calculation of variable cost per unit Volume at low point minus volume at high point Variable cost per unit = $ 2,515 X $ 1.00 Volume at high point minus volume at low point 2,515 High-Low method - Calculation of fixed costs Total cost at the high point $ 8,995 Variable costs at the high point Volume at the high point 2 X units Variable cost per unit $ 1.00 Total variable costs at the high point Total…
Required Information [The following information applies to the questions displayed below.] Upstate Mechanical, Incorporated, has been producing two bearings, components T79 and B81, for use in production. Data regarding these two components follow. Machine hours required per unit Standard cost per unit: Direct material Direct labor Manufacturing overhead Variable* Fixedt Total T79 2.5 $ 2.25 4.00 2.00 3.75 $ 12.00 Maximum price 881 3.0 $ 3.75 4.50 2.25 4.50 $ 15.00 *Variable manufacturing overhead is applied on the basis of direct-labor hours. *Fixed manufacturing overhead is applied on the basis of machine hours. Upstate Mechanical's annual requirement for these components is 8,000 units of T79 and 11,000 units of B81. Recently. management decided to devote additional machine time to other product lines, leaving only 41,000 machine hours per year for producing the bearings. An outside company has offered to sell Upstate Mechanical its annual supply of bearings at prices of $11.25 for…
Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced Total Costs $ 4,580 2 480 3,880 4,280 4,880 3,980 4,180 3 880 1,280 1,680 2,080 2,480 2,880 3,280 3,680 4 8,680 16,080 4,880 8 9 10 11,020 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. Cost equation = per unit
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Required information Skip to question [The following information applies to the questions displayed below.] Pepper’s Automotive produces auto parts for various automotive retailers. Pepper’s is evaluating the exhaust system division of the company and has come up with the following data for the year: net revenues are $1,270,000, variable costs are $426,000, and fixed costs are $517,000. Of the fixed costs, controllable fixed costs are $118,000 and noncontrollable fixed costs are $399,000. What are the controllable margin and total contribution by profit center (CPC), respectively? multiple choice Controllable margin: $726,000; CPC: $445,000 Controllable margin: $844,000; CPC: $327,000 Controllable margin: $844,000; CPC: $118,000 Controllable margin: $726,000; CPC: $327,000
Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Units Produced Total Costs Period 1 2 0 400 $ 2,525 3,325 3 800 4,125 4 1,200 4,925 5 1,600 5,725 6 2,000 6,525 7 2,400 7,325 8 2,800 8,125 9 3,200 8,925 10 3,600 9,725 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. High-Low method - Calculation of variable cost per unit Total cost at the high point Variable costs at the high point Volume at the high point Variable cost per unit Total variable costs at the high point Total fixed costs Total cost at the low point Variable costs at the low point Volume at the low point Variable cost per unit Total variable costs at the low point Total fixed costs High-Low method - Calculation of fixed costs+ (2) Estimated cost if 3,000 units are produced: Estimated total cost

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