Homework Answers
Simplifying the question and solving it as follows,
Under high low method, the formula to calculate variable cost is as follows,
(Highest activity cost - lowest activity cost) ÷ (Highest activity units - lowest activity units)
That is (March activity cost - February activity cost) ÷ (March activity units - February activity units)
Substituting the values (14,979 - 13,495) ÷ (8,550 - 7,490) = 1.4 per mile.
Calculation of fixed cost is as simple as that, it is total cost - variable cost = (can take of any month, I am going with January) 14,120 - (1.4 x 8,000) = 2,920.
Therefore answers are, 1.4 per mile and 2,920 respectively.
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CALCULATUR FULL SCREEN PRINTER VERSION BACK NE Brief Exercise 18-04 Wildhorse Company accumulates the following data...
Brief Exercise 18-04 Crane Company accumulates the following data concerning a mixed cost, using miles as...
Brief Exercise 18-04
Crane Company accumulates the following data concerning a mixed
cost, using miles as the activity level.
Miles
Driven
Total
Cost
Miles
Driven
Total
Cost
January
7,995
$14,200
March
8,550
$14,987
February
7,490
13,503
April
8,200
14,490
Compute the variable cost per mile using the high-low method.
(Round answer to 2 decimal places, e.g.
2.25.)
Variable cost per mile
$
Compute the fixed cost elements using the high-low
method.
Fixed costs
$
Brief Exercise 18-04 Sunland Company accumulates the following data concerning a mixed cost, using miles as...
Brief Exercise 18-04 Sunland Company accumulates the following data concerning a mixed cost, using miles as the activity level. January February Miles Driven 8,020 7,505 Total Cost $14,195 13,513 March April Miles Driven 8,550 8,205 Total Cost $14,976 14,485 Compute the variable cost per mile using the high-low method. (Round answer to 2 decimal places, e.g. 2.25.) Variable cost per mile $ Compute the fixed cost elements using the high-low method. Fixed costs $ Click if you would like to...
Brief Exercise 18-04 Blossom Company accumulates the following data concerning a mixed cost, using miles as...
Brief Exercise 18-04 Blossom Company accumulates the following data concerning a mixed cost, using miles as the activity level. January February Miles Driven 7,990 7,485 Total Cost $14,100 13,468 March April Miles Driven 8,490 8,190 Total Cost $14,875 14,485 Compute the variable cost per mile using the high-low method. (Round answer to 2 decimal places, e.g. 2.25.) variable cost per miles Variable cost per mile LINK TO TEXT Compute the fixed cost elements using the high-low method. Fixed costs LINK...
Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level....
Bruno Company accumulates the following data concerning a mixed
cost, using miles as the activity level.
Miles
Driven
Total
Cost
Miles
Driven
Total
Cost
January
7,995
$14,200
March
8,510
$15,010
February
7,510
13,510
April
8,195
14,495
Compute the variable cost per mile using the high-low method.
(Round variable cost per mile to 2 decimal places e.g.
1.25.)
Variable cost per mile
$
Compute the fixed cost elements using the high-low
method.
Fixed costs
$
CALCULATOR FULL SCREEN Brief Exercise 18-04 Cullumber Company accumulates the following data concerning a mixed cost,...
CALCULATOR FULL SCREEN Brief Exercise 18-04 Cullumber Company accumulates the following data concerning a mixed cost, using miles as the activity level. January February Miles Driven 8,005 7,500 Total Cost $14,170 13,490 March April Miles Driven 8,500 8,200 Total Cost $14,790 14,485 Compute the variable cost per mile using the high-low method (Round answer to 2 decimal places, e.g. 2.25.) Variable cost per mile Compute the fixed cost elements using the high-low method. Fixed costs Problem 18-04A Pharoah Corp.'s sales...
w Attempt History trent Attempt in Progress Crane Company accumulates the following data concerning a mixed...
w Attempt History trent Attempt in Progress Crane Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Total Driven Cost January 7,995 $14180 March February 7,505 13 502 April Miles Driven 8,510 8.200 Total Cost $14.909 14.495 ✓ Your answer is correct Compute the variable cost per mile using the high-low method. (Round answer to 2 decimal places, eg 2.25 Variable cost per miles la2 Compute the fixed cost elements using the high...
Assignment Gradebook ORION Downloadable eTextbook ent FULL SCREEN PRINTER VERSION BACK Do It! Review 19-7 Westerville...
Assignment Gradebook ORION Downloadable eTextbook ent FULL SCREEN PRINTER VERSION BACK Do It! Review 19-7 Westerville Company accumulates the following data concerning a mixed cost, using units produced as the activity level. March April May June July Units Produced Total Cost 10,150 $18,124 9,000 16,507 10,600 18,834 16,047 9,490 16,937 8,790 Your answer is incorrect. Try again. Compute the variable cost per unit using the high-low method. (Round variable cost per unit to 2 decimal places varlable cost per unit...
Question 1 Mace Company accumulates the following data concerning a mixed cost, using miles as the...
Question 1 Mace Company accumulates the following data concerning a mixed cost, using miles as the activity level. January 10.00 $15,000 13,500 4,400 12,500 February 8,00 March 9,000 7,500 April Instructions Compute the variable and fixed cost elements using the high-low method.
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 10-03 Wildhorse Company is constructing a building....
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 10-03 Wildhorse Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,028,000 on March 1, $1,308,000 on June 1, and $3,091,450 on December 31. Wildhorse Company borrowed $1,082,890 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,243,100 note payable and an 11%, 4-year, $3,364,500...
Sheridan Company accumulates the following data concerning a mixed cost, using units produced as the activity...
Sheridan Company accumulates the following data concerning a mixed cost, using units produced as the activity level. March April May June July Units Produced 10,050 8,900 10,500 8,730 9,410 Total Cost $17,285 15,853 17,547 15,423 16,273 Compute the variable cost per unit using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per unit Compute the fixed cost elements using the high-low method. Fixed costs Using the information from your answer to above part, write the...
Brief Exercise 18-04
Crane Company accumulates the following data concerning a mixed
cost, using miles as the activity level.
Miles
Driven
Total
Cost
Miles
Driven
Total
Cost
January
7,995
$14,200
March
8,550
$14,987
February
7,490
13,503
April
8,200
14,490
Compute the variable cost per mile using the high-low method.
(Round answer to 2 decimal places, e.g.
2.25.)
Variable cost per mile
$
Compute the fixed cost elements using the high-low
method.
Fixed costs
$
Brief Exercise 18-04 Sunland Company accumulates the following data concerning a mixed cost, using miles as the activity level. January February Miles Driven 8,020 7,505 Total Cost $14,195 13,513 March April Miles Driven 8,550 8,205 Total Cost $14,976 14,485 Compute the variable cost per mile using the high-low method. (Round answer to 2 decimal places, e.g. 2.25.) Variable cost per mile $ Compute the fixed cost elements using the high-low method. Fixed costs $ Click if you would like to...
Brief Exercise 18-04 Blossom Company accumulates the following data concerning a mixed cost, using miles as the activity level. January February Miles Driven 7,990 7,485 Total Cost $14,100 13,468 March April Miles Driven 8,490 8,190 Total Cost $14,875 14,485 Compute the variable cost per mile using the high-low method. (Round answer to 2 decimal places, e.g. 2.25.) variable cost per miles Variable cost per mile LINK TO TEXT Compute the fixed cost elements using the high-low method. Fixed costs LINK...
Bruno Company accumulates the following data concerning a mixed
cost, using miles as the activity level.
Miles
Driven
Total
Cost
Miles
Driven
Total
Cost
January
7,995
$14,200
March
8,510
$15,010
February
7,510
13,510
April
8,195
14,495
Compute the variable cost per mile using the high-low method.
(Round variable cost per mile to 2 decimal places e.g.
1.25.)
Variable cost per mile
$
Compute the fixed cost elements using the high-low
method.
Fixed costs
$
CALCULATOR FULL SCREEN Brief Exercise 18-04 Cullumber Company accumulates the following data concerning a mixed cost, using miles as the activity level. January February Miles Driven 8,005 7,500 Total Cost $14,170 13,490 March April Miles Driven 8,500 8,200 Total Cost $14,790 14,485 Compute the variable cost per mile using the high-low method (Round answer to 2 decimal places, e.g. 2.25.) Variable cost per mile Compute the fixed cost elements using the high-low method. Fixed costs Problem 18-04A Pharoah Corp.'s sales...
w Attempt History trent Attempt in Progress Crane Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Total Driven Cost January 7,995 $14180 March February 7,505 13 502 April Miles Driven 8,510 8.200 Total Cost $14.909 14.495 ✓ Your answer is correct Compute the variable cost per mile using the high-low method. (Round answer to 2 decimal places, eg 2.25 Variable cost per miles la2 Compute the fixed cost elements using the high...
Assignment Gradebook ORION Downloadable eTextbook ent FULL SCREEN PRINTER VERSION BACK Do It! Review 19-7 Westerville Company accumulates the following data concerning a mixed cost, using units produced as the activity level. March April May June July Units Produced Total Cost 10,150 $18,124 9,000 16,507 10,600 18,834 16,047 9,490 16,937 8,790 Your answer is incorrect. Try again. Compute the variable cost per unit using the high-low method. (Round variable cost per unit to 2 decimal places varlable cost per unit...
Question 1 Mace Company accumulates the following data concerning a mixed cost, using miles as the activity level. January 10.00 $15,000 13,500 4,400 12,500 February 8,00 March 9,000 7,500 April Instructions Compute the variable and fixed cost elements using the high-low method.
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 10-03 Wildhorse Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,028,000 on March 1, $1,308,000 on June 1, and $3,091,450 on December 31. Wildhorse Company borrowed $1,082,890 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,243,100 note payable and an 11%, 4-year, $3,364,500...
Sheridan Company accumulates the following data concerning a mixed cost, using units produced as the activity level. March April May June July Units Produced 10,050 8,900 10,500 8,730 9,410 Total Cost $17,285 15,853 17,547 15,423 16,273 Compute the variable cost per unit using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per unit Compute the fixed cost elements using the high-low method. Fixed costs Using the information from your answer to above part, write the...
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