Question: Using the highlow method, find total fixed cost and the variable cost per guest if you had 14,000 and 10,000 guests, and labor costs were

Using the high–low method, find total fixed cost and the variable cost per guest if you had 14,000 and 10,000 guests, and labor costs were $15,500 and $12,000, respectively.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Management Accounting Questions!

On January 1, Year 4, Goodkey Co. acquired all of the common shares of Jingya. The condensed income statements for the two companies for January, Year 5, were as follows: Sales Goodkey $10,100,000...

As shown in the lecture, dates when PRISM collection began for Google and Facebook? You can respond once 9/11/2007 and 1/14/2009, respectively 3/12/2008 and 6/3/2009, respectively 1/14/2009 and...

Angela bought her dream home in a quiet neighborhood. When buying her home, the ACRER manufacturing company next door had been a concern but after getting assurances that they had a good safety...

E7.5 Using the highlow method, find total fixed cost and the variable cost per guest if you had 14,000 and 10,000 guests, and labor costs were $15,500 and $12,000, respectively.

1. Using the highlow method, find total fixed cost and the variable cost per guest if you had 14,000 and 10,000 guests, and labor costs were $15,500 and $12,000, respectively. 2. In studying the...

a)You were asked to cater a buffet for a day 40 people at $15 per person, your variable costs average 75 percent of sales revenue, and fixed costs are $50 per day. Determine your contribution margin...

c)You were asked to cater a buffet for a day 40 people at $15 per person, your variable costs average 75 percent of sales revenue, and fixed costs are $50 per day. Determine your contribution margin...

Most Brilliant Professor Mullen Company's Assembly Department has materials cost at $3 per unit and conversion cost at $6 per unit. There are 15, 000 units in ending inventory, all of which are 70%...

Requirement Requirement Description Worksheet Name 1 Determine the fixed and variable portion of the utility cost using the high-low method. 1 - High-Low Method N Determine the contribution margin...

Need help with questions 12-14. Hoping questions 1-11 have been answered correctly below. Natural Fragrance, Inc., began operations on January 1, 2012. The company produces a hand and body lotion in...

You have been offered a U.S. Treasury bill. The face value of the bill is $10,000, and the price is $9,925.00. The bill matures in 6 months. Compute the YTM of the bill using both discrete and...

Backflush costing, two trigger points, completion of production and sale (continuation of 20-23). Assume the same facts as in Exercise 20-23, except now Road Warrior uses only two trigger points, the...

Greenopan Supply does not segregate sales and sales taes at the time of sale. The regivter total for Macch 1 6 is $ 1 2 . 0 7 5 . Allsales are whifect to a 5 % whes tax. Compule sales tases payable....

Prepare a comparative horizontal analysis of the change in each current asset account from Year 6 to Year 7. Express each change in dollars and the percentage each change represents. Comment on each...

A catering service has been asked to provide a lunch buffet the next day for 40 people at a set price of $10.50 per person; no function has been booked for the next two days. The catering service has...

Given the following information, determine variable cost per dollar of sales revenue and the total fixed costs, using both the high and low data to confirm your calculations. The high total sales...

Given the following information, determine variable cost per guest, and the total fixed costs, using both the high and low data to confirm your calculations. High guests were 18,000 and the low...

Slappey Communications is a technology firm in Birmingham, Alabama, specializing in telecommunications, computer, and network security. Its owner, Bill Slappey, invested nearly $770,000 in property,...

Oriole Company provides financial consulting and has collected the following data for the next year's budgeted activity for a lead consultant Consultants wages $95000 Fringe benefits $12500 Related...

Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below:...