The manufacturing costs of Lightfoot Industries for three months of the year follow: Using the high-low method,
Question:
Using the high-low method, determine
(a) The variable cost per unit.
(b) The total fixed cost.
Transcribed Image Text:
Total Costs Units Produced $640,000 30,00ts January February March 900,000 350,000 40,000 12,500
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
a 20 per unit 900000 35...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Accounting questions
-
The manufacturing costs of Nashbar Industries for three months of the year are provided below. Using the high-low method, determine (a) The variable cost per unit and (b) The total fixedcost....
-
The manufacturing costs of Buckley Industries for three months of the year are provided below. Using the high- low method, determine (a) The variable cost per unit (b) The total fixedcost. Total...
-
The manufacturing costs of Ackerman Industries for the first three months of the year follow: Total Costs Units Produced January.$1,900,00020,000 units February.2,250,000.27,000...
-
Light Sweet Petroleum, Inc., is trying to evaluate a generation project with the following cash flows: Year Cash Flow 0 %u2013$ 39,200,000 1 63,200,000 2 %u2013 12,200,000 a-1 What is the NPV for the...
-
Explain software licenses and maintenance agreements
-
ValueCo generates $10 million in after-tax operating profit on $100 million in assets. The company has $20 million in accounts payable, $15 million in product warranty reserves, $5 million in...
-
According to Eq. 6.134, the \(x\)-velocity in fully developed laminar flow between parallel plates is given by \[ u=\frac{1}{2 \mu}\left(\frac{\partial p}{\partial x} ight)\left(y^{2}-h^{2} ight) \]...
-
The following information is available for the Johnson Corporation for 2011: Required: Applying both a perpetual and a periodic inventory system, prepare the journal entries that summarize the...
-
137- We want to use K-Means with K=2 for the following data. Where should we initially place the cluster centers? Subject A B 1 1.0 1.0 2 1.5 2.0 34 3 3.0 4.0 4 5.0 7.0 5 3.5 5.0 19 6 4.5 5.0 7 3.5...
-
The U.S. Department of Energy provides fuel economy information for a variety of motor vehicles. A sample of 10 automobiles is shown in Table 1.6 (Fuel Economy website, February 22, 2008). Data show...
-
Diamond Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows:...
-
Michigan Company sells 10,000 units at $100 per unit. Variable costs are $75 per unit, and fixed costs are $125,000. Determine (a) The contribution margin ratio. (b) The unit contribution margin ....
-
On January 31, Doherty Logistics, Inc., issued five-year, 7% bonds payable with a face value of $8,000,000. The bonds were issued at 96 and pay interest on January 31 and July 31. Doherty Logistics,...
-
Selected information regarding a company's most recent quarter follows (all data in thousands). Sales revenue Beginning raw materials inventory $4020 $220 Direct materials used $410 Purchases of...
-
What role does RNA editing play in expanding the functional diversity of the transcriptome, and how might dysregulation of RNA editing contribute to disease pathogenesis ?
-
International trade has gone through many changes, especially during the last 60 years. It is really amazing how we can identify very different trends and dramatic changes in the way we interact...
-
Discuss the mechanisms by which epigenetic modifications, such as DNA methylation and histone modifications, regulate chromatin structure and gene expression, and how these modifications can be...
-
How do genome-wide CRISPR screens enable the systematic interrogation of gene function and interaction networks, and what insights have been gained from high-throughput functional genomics studies in...
-
The work sheet for Rivers Edge Canoe & Kayak is included in your working papers. The trial balance is complete, and all of the adjustments except the one required for uncollectible accounts have been...
-
The Ranch 888 Noodle Company sells two types of dried noodles:ramen, at $6.50 per box, and chow fun, at $7.70 per box. So farthis year, the company has sold a total of 110,096 boxes ofnoodles,...
-
Prepare an income statement through gross profit for Bellingham Company for the month ending March 31 using the variance data from Brief Exercises 1, 2, 3, and 4. Assume Bellingham sold 15,000 units...
-
Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,200 bars) are as follows:...
-
Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,200 bars) are as follows:...
-
Provide a numerical example to illustrate how carry trade works?
-
If there are 3 6 0 million people living in the U . S , and 2 7 0 million are eligible workers while 1 5 0 million are in the labor force with 3 . 6 % unemployed, what is the number of unemployed...
-
Refer to the information provided in Figure 8.8 bele to answer the questis that MC Coper 12 ATC P-MR 200 700 1000 1400 Bushels of soybeans 283 Figure 8.8 26) Refer to Figure 8.8. This farmer's...
Study smarter with the SolutionInn App