Felix & Company reports the following information. Period Units Produced Total Costs $ 2,550 3,310 4,070...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Felix & Company reports the following information. Period Units Produced Total Costs $ 2,550 3,310 4,070 4,830 5,590 6,350 7,110 7,870 ৪,630 9,390 400 3. 800 4 1,200 1,600 2,000 2,400 2,800 3,200 3,600 6. 7. 10 (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) Estimated cost if 3,000 units are produced: Estimated total cost Felix & Company reports the following information. Period Units Produced Total Costs $ 2,550 3,310 4,070 4,830 5,590 6,350 7,110 7,870 ৪,630 9,390 400 3. 800 4 1,200 1,600 2,000 2,400 2,800 3,200 3,600 6. 7. 10 (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) Estimated cost if 3,000 units are produced: Estimated total cost
Expert Answer:
Answer rating: 100% (QA)
Period Units produced Total Costs 1 0 2550 2 400 3310 3 800 4070 4 1200 4830 5 1600 5590 6 2000 6350 ... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
Students also viewed these accounting questions
-
The balance sheet for Fogelberg Company reports the following information on July 1, 2014. Fogelberg decides to redeem these bonds at 102 after paying annual interest. Prepare the journal entry to...
-
The balance sheet for Gelher Company reports the following Information on July l, 2017. Gelher decides to redeem these bonds at 102 after paying annual interest. Prepare the journal entry to record...
-
Felix & Co. reports the following information about its sales and cost of sales. Draw an estimated line of cost behavior using a scatter diagram, and compute fixed costs and variable costs per unit...
-
Alpha Mann Ltd makes and sells computer carry bags. Bill Blake, the company accountant, is responsible for preparing the company's annual budget. In compiling the budget data for next year, Blake has...
-
Comment on the fact that the reduction of pyruvate to lactate, catalyzed by lactate dehydrogenase, is strongly exergonic (recall this from Chapter 15), even though the standard free-energy change for...
-
A compressor takes in saturated vapor R-134a at 20C and delivers it at 30C, 0.4 MPa. Assuming that the compression is adiabatic, find the isentropic efficiency and the second law efficiency.
-
Price Differentiating E-commerce websites "alter results depending on whether consumers use smartphones or particular web browsers," 34 reports a new study. The researchers created clean accounts...
-
Two projects have an identical net present value of $9,000. Are both projects equal in desirability?
-
Sit Down Publishers publishes The Accountant magazine and sells one - year ddsubscriptions to its customers. Customers are required to pay in full for the one - year subscription at the beginning of...
-
A parent company acquired 70% of the stock of a subsidiary company on January 1, 2017, for $610,000. On this date, the balances of the subsidiarys stockholders equity accounts were Common Stock,...
-
Using the information given below, calculate the total standard cost. Do not include the dollar sign in your answer, and round your answer to the nearest two decimal places. Menu Item Strawberry...
-
Apply the binomial tree model to determine the fair value of an Asian option. Valuing an Exotic Option The payoff of an Asian option is a function of the underlying's average price over the life of...
-
Suppose a 250. mL flask is filled with 0.60 mol of NO2 and 0.80 mol of O2. This reaction becomes possible: 2NO2(g) 2NO(g) + O2(g) Complete the table below, so that it lists the initial molarity of...
-
n The consolidated financial statements of Birzeit Pharmaceuticals as of December 31, 2022, have been prepared in accordance with: (Answer can be found within the accounting policies section of the...
-
Consider the various wing designs, including airfoil characteristics, wing planform, and lift devices such as flaps, slats, vortex generators, and boundary layer devices. Next, think about how these...
-
1 $5,000.00 deposited in an account earning 6.5%, for 8 years. Calculate the balance in 8 years. a. 8,274.98 b. 8,752.83 c. 8,917.39 d 9,235.36 A firm has net sales of $5,700,000, Cost of Goods Sold...
-
As additional units of capital goods are produced, the opportunity cost in terms of sacrificed units of consumption goods ____ because of ____.
-
In each of the following independent cases, document the system using whatever technique(s) your instructor specifies. a. Dreambox Creations (www.dreamboxcreations.com/) in Diamond Bar, California,...
-
The December 31, 2011, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2011) follows. Required 1. Record and post the necessary closing...
-
Review Research In Motions income statement in Appendix A and identify its revenues for the years ended February 27, 2010, February 28, 2009, and March 1, 2008. For the year ended February 27, 2010,...
-
Prairie Landscaping has enjoyed profits for many years, but new competition has cut service revenue by as much as 30%. As a result, the company wants to better understand its costs. It decides to...
-
Where does the management accounting function fit into an organizations structure?
-
What are the ethical responsibilities of management accountants?
-
Diana Corporation provides the following information for 2017: Calculate the total manufacturing costs incurred in 2017. Beginning inventory of direct materials, 1/1/2017 Purchases of direct...
Study smarter with the SolutionInn App