Question: High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units

High-Low Method

Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows:

Units Produced Total Costs
7,200 $ 516,600
2,700 332,100
4,950 483,760

a. Determine the variable cost per unit and the fixed cost.

Variable cost per unit $
Fixed cost $

b. Based on part (a), estimate the total cost for 3,560 units of production. $

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 Accounting Questions!

Q:

Project title: Design and build a database for Aka Hospital. Project description Aka Hospital, a leading healthcare provider, aims to streamline patient information management and improve overall...

Q:

2:07 Chapter 11 Homework (Part 2) O High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced...

Q:

Contribution Margin Ratio a. Old Dominion Company.r budgets sales of $1,170,000r fixed costs of $158,500 and variable costs of $?48,800. What is the contribution margin ratio for Old Dominion...

Q:

Q:

High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced Total Costs 2,680 $ 132,770 1,430...

Q:

Relevant Range and Fixed and Variable Costs FirstClass Gaming Inc. manufactures components for computer games within a relevant range of 1 1 4 , 0 0 0 to 1 8 2 , 4 0 0 components per year. Within...

Q:

High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced Total Costs 100,000 $1,800,000 180,000...

Q:

High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced Total Costs 5,610 $425,040 4,200...

Q:

High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced Total Costs 1,800 $ 278,640 3,380...

Q:

High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced Total Costs 5,240 2,795 7,095 427,250...

Q:

High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced Total Costs 3,875 $ 413,000 2,470...

Q:

Design a management control framework for a company of your choice, based on social, environmental, and ethics indicators for the product or service offered. You can use Figure 14.17, The Process of...

Q:

Suppose on 03/15/2018, you are expecting that the yield curve will flatten You want to enter into a spread trade using $100 million face value of 20-year bond and a corresponding amount of 2-year...

Q:

Which of the following utatements is true rogonding the impoct of the ollowonce for uncollectible ocoourts an osuocighed nevenuet? a . Allowances hove no impoct on non - eschonge tronsoctions. d ....

Q:

Help on writing an asembly program that works with arrays to do the following the methods in JAVA. Write an assembly program titled "YourLastName_Program3" which will perform the equivalent of the...