Markowis Company accumulates the following data concerning a mixed cost, using miles as the activity level. Compute
Question:
Compute the variable and fixed cost elements using the high-lowmethod.
Transcribed Image Text:
Miles Driven 8,000 7,500 Total Cost $15,000 14,490 Total Cost Miles Driven 8,500 8,200 January February $14,150 March 13,600 April
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
High Low Difference 15000 13600 1400 8500 7500 1000 1400 ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-0470477144
5th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level. Compute the variable- and fixed-cost elements using the high-lowmethod. Miles Driven 8,000...
-
Mace Company accumulates the following data concerning a mixed cost, using miles as the activity level. Compute the variable and fixed cost elements using the high-lowmethod. Miles Driven 10.000...
-
Deines Company accumulates the following data concerning a mixed cost, using kilometres as the activity level: Calculate the variable and fixed cost elements using the high-low method. Kilometres...
-
PROJECT SUMMARY: You have been asked to submit a proposal to a client, Sara Johnson, who is moving the small firm to a new office location. The proposal is on the analysis and design of the office...
-
Consider the following payoff matrix. Firm 1 and Firm 2 are seeking to choose between Format A and Format B for their products, under the assumption that there are not any network effects. Will they...
-
Which of the following is the ultimate objective for the financial perspective in for-profit organizations? a. Brand image b. Productivity c. Growth d. Shareholder value e. None of these is the...
-
The time, \(t\), it takes to pour a certain volume of liquid from a cylindrical container depends on several factors, including the viscosity of the liquid. Assume that for very viscous liquids the...
-
Eskimo Joes, designer of the worlds second best-selling T-shirt (just behind Hard Rock Cafe), borrows $21 million cash on November 1, 2015. Eskimo Joes signs a six-month, 7% promissory note to...
-
Weller Company's budgeted unit sales for next year are provided below: Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 26,000 27,000 19,000 24,000 The company's variable selling...
-
Spartan Corporation manufactures quidgets at its plant in Sparta, Michigan. Spartan sells its quidgets to customers in the United States, Canada, England, and Australia. Spartan markets its products...
-
For Wesland Company, a mixed cost is $20,000 plus $16 per direct labor hour. Diagram the behavior of the cost using increments of 500 hours up to 2,500 hours on the horizontal axis and increments of...
-
Briggs Corp. has collected the following data concerning its maintenance costs for the past 6 months. Compute the variable and fixed cost elements using the high-lowmethod. Units Produced Ju August...
-
A one-third scale model of a car is to be tested in a wind tunnel. The conditions of the actual car are V = 75 km/h and T = 0C and the air temperature in the wind tunnel is 20C. The properties of air...
-
In this exercise, we consider the amounts that are borrowed for single family home purchases in Las Vegas, Nevada, during 2010. Use the data file vegas5_small for this exercise. a. Compute summary...
-
Show that the perturbation potential equation expressed in moving coordinates for a steady compressible flow, satisfies Eq. 2.24 in original coordinates. Eq. 2.24 V' 1 +U- $' = 0 t x
-
A well-insulated, rigid vessel is divided into two compartments by a partition. The volume of each compartment is 0.1 m3. One compartment initially contains 400 moles of gas A at 300 K, and the other...
-
Identify a personal project that you have completed in the recent past this may be a piece of coursework, a DIY project, etc. Consider the way in which the project was planned, carried out, the...
-
Find examples of projects that fit into each of the categories of project first-timers, as...but...s, and painting by numbers. Briefly discuss how the category would influence how you would expect...
-
What is a headlines job? What does it need to express?
-
Create an appropriate display of the navel data collected in Exercise 25 of Section 3.1. Discuss any special properties of this distribution. Exercise 25 The navel ratio is defined to be a persons...
-
In the sixth chapter of Genesis, the dimensions of Noahs ark are given as 300 cubits long, 50 cubits wide, and 30 cubits high. Use the Egyptian cubit in Figure 8.7 to convert these measurements to...
-
According to a payroll register summary of Ruiz Company, the amount of employees gross pay in December was $850,000, of which $90,000 was not subject to FICA tax and $750,000 was not subject to state...
-
Cerner Company has two fringe benefit plans for its employees: 1. It grants employees 2 days vacation for each month worked. Ten employees worked the entire month of March at an average daily wage of...
-
Serenity Corporation has 20 employees who each earn $120 a day. The following information is available. 1. At December 31, Serenity recorded vacation benefits. Each employee earned 5 vacation days...
-
Differentiate between a scalar value and a vector value.
-
Now that the supplier of the nori has been chosen and the transportation method selected, you turn your attention to the downstream side of the supply chain -- the marketing (distribution) channels....
-
Mandy Murphy, owner of Murphy and Co. (Saint John, New Brunswick), gave the following list of assets and liabilities to a public accountant and asked him to prepare a balance sheet for the company as...
Study smarter with the SolutionInn App