JK have been assigned to work on an analysis between fixed and variable costs in his...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
JK have been assigned to work on an analysis between fixed and variable costs in his department. The power cost does not seem to fit into either category easily. The following details are as follows: WEEK 1 2 3 4 01 5 6 7 POWER COST 3,600 3,950 3,050 3,380 3,870 4,020 2,095 # MACHINEHOURS 8,000 9,000 6,500 7,400 8,600 8,900 3,700 REQUIRED: 1. Separate the cost (Fixed and Variable), finding the closest estimate of the elements using the high and low point method. 2. Estimate the total cost likely in week eight (8) if the expected level of machine hour is 18,000. JK have been assigned to work on an analysis between fixed and variable costs in his department. The power cost does not seem to fit into either category easily. The following details are as follows: WEEK 1 2 3 4 01 5 6 7 POWER COST 3,600 3,950 3,050 3,380 3,870 4,020 2,095 # MACHINEHOURS 8,000 9,000 6,500 7,400 8,600 8,900 3,700 REQUIRED: 1. Separate the cost (Fixed and Variable), finding the closest estimate of the elements using the high and low point method. 2. Estimate the total cost likely in week eight (8) if the expected level of machine hour is 18,000.
Expert Answer:
Answer rating: 100% (QA)
To separate the cost into fixed and variable components using the high and low point method we need ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The management of Welcome Hotel is interested in an analysis of the fixed and variable costs in the electricity used relative to hotel occupancy. The following data have been gathered from records...
-
ACE Refining Co. manufactures two joint products (gasoline and diesel fuel) from an initial joint process (using crude oil). The company is trying to decide whether to take 40% of the gasoline and...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
In 2013, Natural Selection, a nationwide computer dating service, had $500 million of assets and $200 million of liabilities. Earnings be-fore interest and taxes was $120 million, interest expense...
-
Consider a 1400-kg car cruising at constant speed of 70 km/h. Now the car starts to pass another car, by accelerating to 110 km/h in 5 s. Determine the additional power needed to achieve this...
-
1. CPA QUESTION: Which of the following requirements must be met to create a bailment? I. Delivery of personal property to the intended bailee II. Possession by the intended bailee III. An absolute...
-
Credit data were collected on a random sample of 25 U.S. cities in a recent year. Following are the average credit scores, the average debt, the average number of late payments, the average...
-
After the presentation of your report on the examination of the financial statements to the board of directors of Piper Publishing Company, one of the new directors expresses surprise that the income...
-
analyzing the below portfolio's beta and providing an actual calculation (showing the math) of your portfolio's beta. For the second explain and interpret the portfolio's beta using the following...
-
Electro-Phi Inc. (the "Company") is a utility provider that sells electricity to the public. The Company produces the electricity using various forms of power generation, including the burning of...
-
If a firm could perfectly price discriminate A. There would be no marginal revenue function B. The marginal revenue curve would lie below the demand curve C. The marginal revenue curve would lie...
-
What are "tick marks"? Show three examples.
-
True or False. The element stiffness matrix in the global coordinate system, \([\bar{k}]\), can be expressed in terms of the local matrix \([k]\) and the coordinate transformation matrix...
-
State each of the following rules: a. General Addition Rule b. Addition Rule for Mutually Exclusive Events c. Rule of Complements d. General Multiplication Rule e. Multiplication Rule for Independent...
-
The General Addition Rule is used for probabilities of the form P (A or B). In Exercises 912, determine whether the statement is true or false. If the statement is false, rewrite it as a true...
-
Through the implementation of efficient and effective management, New Belgium Brewing (NBB) has grown from operating out of the founder's basement to having two state-of-the-art facilities and over...
-
On September 1, 2016, Anthony Ferrara organized a business called Friend With A Toolbox for the purpose of operating an equipment rental yard. The new business was able to begin operations...
-
(a) Prove that form an orthonormal basis for R3 for the usual dot product. (b) Find the coordinates of v = (1, 1, 1)T relative to this basis. (c) Verify formula (5.5) in this particular case. 48-65...
-
The following transactions pertain to the March 31, 2013, year end, for a province reporting in accordance with the CICA PSA Handbook: 1. Assume the accrual for the year-end estimate of income tax...
-
On December 1, 2013, Mayberry Inc. purchased inventory on account from a U.S. supplier for U.S. $40,000 when the exchange rate was U.S. $1 = C$0.97. The inventory was still on hand at Mayberrys year...
-
On December 31, 2010, Peat Limited purchased 70% of the outstanding common shares of Soap Limited for $7 million. On that date, Soaps shareholders equity consisted of common shares of $5 million and...
-
Write down the structure of a three-dimensional VARMA model if the vector time series has the following three components: \(\operatorname{SCM}(0,0), \operatorname{SCM}(0,1)\), and...
-
Consider the three SCMs of Question 3. If the maximum elements, in absolute value, of the three rows of the transformation matrix \(T\) are \((1,1),(2,3)\), and \((3,2)\), respectively. Write down...
-
Consider the realized volatilities of the Alcoa stock from January 2, 2003, to May 7, 2004, for 340 observations. The realized volatilities are the sum of squares of intraday \(m\)-minute log...
Study smarter with the SolutionInn App