Question: M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments

M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for the first half of the year: Number of Total Month Appointments Cost January 275 $6,550 February 250 6,400 March 475 7,000 April 225 5,700 May 200 5,300 June 150 5,700 Using the high-low method, calculate the total fixed cost per month and the variable cost per tanning appointment. (Round your "Variable Cost per Unit" answer to 2 decimal places and "Fixed Cost" answer to the nearest dollar amount.) Variable Cost per Unit $ 2:00 Fixed Cost $ 5,500

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!

M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for...

M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Sherrl's Tan-O-Rama is a local tanning salon. The following...

M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for...

Saved Help Save & Exit Submit You received no credit for this question in the previous attempt Check my work View previous attempt M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3)...

M5-10 (Algo) Estimating Cost Behavior Using High-Low Method (LO 5-3) Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for...

M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for the first...

Check my work 7 M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] 1 points Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of...

M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for...

One vehicle for acquiring an understanding of the entrepreneurial process is through the preparation of a start-up business plan. The focus of this TMA is to select a business idea and create a...

Sodium is a soft, reactive metal that instantly reacts with water to give hydrogen gas and a solution of sodium hydroxide, NaOH. How many grams of sodium metal are needed to give 7.81 g of hydrogen...

Accumulated Depletion is the estimated cost of natural resources removed from their natural setting to date. Select one: True False

CT Corp Comprehensive Question Canadian Tire Corporation, Limited ( Canadian Tire ) is a family of companies that includes a retail segment and a financial services division, among others. The retail...

3. What are intangible assets? How do they relate to training and development?

2. What steps are included in the training design model? What step do you think is most important? Why?

5. Training professionals continue to debate whether the ISD model is flawed. Some argue that ISD should be treated as a project management approach rather than a step-by-step recipe for building...