The inspection costs at one of the Iuliano Corporation factories are listed below: Units Produced Inspection Cost
Question:
The inspection costs at one of the Iuliano Corporation factories are listed below:
Units Produced Inspection Cost
February 905 $16,212
March 949 $16,600
April 911 $16,265
May 895 $16,110
June 917 $16,294
July 902 $16,180
August 919 $16,332
September 859 $15 760
October 838 $16
Management believes that mixed cost that depends on the units produced.
Using the high-low method, estimate the fixed component of the inspection cost per month.
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher