X Company uses the high-low method to predict monthly overhead costs. The following were May and...
X Company uses the high-low method to predict monthly overhead
costs. The following were May and September cost and activity
results:
| OH Cost | Production | |
| May | $8,878 | 2,700 |
| September | $12,680 | 4,650 |
If December production is expected to be 3,700 units, what are expected total fixed overhead costs in December [round unit costs to two decimal places]?
Homework Answers
| Computation of Variable OH cost per unit | |||
| Formula | = | (Highest OH cost - Lowest OH Cost) / (Highest Prod. Units - Lowest Prod. Units) | |
| = | ($ 12680 - $ 8878) / (4650 - 2700) | ||
| = | $ 1.95 | ||
| Computation of Variable Cost and Fixed Cost | |||||
| Units | Total Cost | Variable Cost | Fixed Cost | ||
| (Total Cost - Variable Cost) | |||||
| 2700 | $ 8,878.00 | $ 5,265.00 | $ 3,613.00 | ||
| (2700 x $ 1.95) | ($ 8878 - $ 5265) | ||||
| 4650 | $ 12,680.00 | $ 9,067.00 | $ 3,613.00 | ||
| (4650 x $ 1.95) | ($ 12680 - $ 9067) | ||||
| 3700 | $ 10,828.00 | $ 7,215.00 | $ 3,613.00 | ||
| (3700 x $ 1.95) | |||||
Answer: $ 3613
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