Question: High-low method-missing amounts The following data have been extracted from the records of Puzzle Inc.: February August Production level, in 10,000 20,000 units Variable

High-low method-missing amounts The following data have been extracted from the records of Puzzle Inc.: February August Production level, in 10,000 20,000 units Variable costs.... $24,000 $ ? Fixed costs... ? 36,000 Mixed costs.. 20,000 ? Total costs.. $80,000 $118,000 Required: a. Calculate the missing costs. b. Calculate the cost formula for mixed cost using the high-low method. c. Calculate the total cost that would be incurred for the production of 16,000 units. d. Identify the two key cost behavior assumptions made in the calculation of your answer to part c.

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!

The OTC products are widely available to the public, what are the effects of not regulating them like prescription medications? Some dietary supplements claim to help people with their health but...

. High-low method-missing amounts The following data have been extracted from the records of Puzzle Inc.: February August Production level, in units 10,000 20,000 Variable costs $24,000 $ ? Fixed...

The following data have been extracted from the records of Puzzle Incorporated: February August Production level, in units 11,400 20,520 Variable costs $ 27,360 $ ?question mark Fixed costs ?question...

The following data have been extracted from the records of Puzzle, Inc.: February August Production level, in units 8,400 20,160 Variable costs $ 24,360 $ ? Fixed costs ? 30,700 Mixed costs 25,884 ?...

The following data have been extracted from the records of Puzzle, Inc.: February August Production level, in units 11,000 20,900 Variable costs $ 22,000 $ ? Fixed costs ? 36,100 Mixed costs 15,210 ?...

Framer" uescnpuun; The following data have been extracted from the records of Puzzle Inc.: February August Production level, in units 12.000 18.000 Variable costs $ 21,000 $ ? Fixed costs 31.000...

The following data have been extracted from the records of Puzzle, Inc.: February August Production level, in units 11,100 19,980 Variable costs $ 31,080 $ ? Fixed costs ? 36,200 Mixed costs 28,999 ?...

The following data have been extracted from the records of Puzzle, Inc.: February August Production level, in units 9000, 20700 variable costs $ 26100 $ ? Fixed costs ? 30900 Mixed costs 25710 ?...

The following data have been extracted from the records of Puzzle, Inc.: February August Production level, in units 11,800 25,960 Variable costs $ 33,040 $ ? Fixed costs ? 32,500 Mixed costs 29,120 ?...

The Spot Group had the following items in its opening and closing group statements of financial position at the beginning and at the end of At 1 January 2016 At 31 December 2016 $ 000 $ 000 Current...

After conducting a market research that cost $15,000, Book Printing Company (BPC) is considering the purchase of a new printing machine which will allow them to print signage and posters. The machine...

A UML State diagram is used to: Show static relationships Model the dynamic behavior of an object over time Illustrate user interactions with the system Describe software deployment on hardware

Provide the terminologies for the following descriptions of trees in the order in which they have been given: A tree in which a node is designated as the origin from where edges emanate The maximum...

13.3. Compute the E for the Hughes acquisition at the target debt level.

13.2. Compute UA, the beta of the unlevered assets of the Hughes acquisition, by taking the average of the betas of the unlevered assets of Lockheed and Northrop. Comparison Firm E D/E GM 1.20 .40...

13.4. Compute the WACC for the Hughes acquisition.