Question: Please help in finding the fixed cost amount with work shown! Thank you Question 3 Angie March owns a catering company that stages banquets and

Please help in finding the fixed cost amount with work shown! Thank youPlease help in finding the fixed cost amount with work shown! Thank

Question 3 Angie March owns a catering company that stages banquets and parties for both individuals and companies. The business is seasonal, with heavy demand during the summer months and year-end holidays and light demand at other times. Angie has gathered the following cost information from the past year: Month January February March April May June July August September October November December Labor Hours Overhead Costs 3,500 2,800 3,000 4,200 4,500 5,500 6,500 7,500 7,800 4,500 3,100 6,500 59,400 $73,000 69,080 70,000 77,000 80,000 87,000 91,000 96,000 99,580 81,000 73,000 90,000 $986,660 Total Your answer is partially correct. Try again. Using the high-low method, compute the overhead cost per labor hour and the fixed overhead cost per month. (Round variable cost to 2 decimal places, e.g. 52.75 and all other answers to o decimal places, e.g. 5,275.) Variable cost- per labor hour Fixed cost

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!