Question

Felix & Co. reports the following information about its units produced and total costs. Period Units...

Felix & Co. reports the following information about its units produced and total costs.

Period Units Produced Total Costs Period Units Produced Total Costs
1 0 $ 2,700 6 2,200 $ 5,700
2 600 3,300 7 2,600 6,300
3 1,000 3,900 8 3,000 6,900
4 1,400 4,500 9 3,400 7,500
5 1,800 5,100 10 3,800 9,160


Estimate total costs if 3,200 units are produced. Complete the below table to calculate the fixed cost and variable cost of sales by using the high-low method.

High-Low method - Calculation of variable cost per unit
Change in cost Cost at high point minus cost at low point 0
Change in volume Volume at high point minus volume at low point
High-Low method - Calculation of fixed costs
Total cost at the high point
Variable costs at the high point:
Volume at the high point:
Variable cost per unit
Total variable costs at the high point
Total fixed costs
Total cost at the low point
Variable costs at the low point:
Volume at the low point:
Variable cost per unit
Total variable costs at the low point
Total fixed costs
Estimated total cost

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Felix & Co. reports the following information about its unit sales and cost of sales. Period...
Felix & Co. reports the following information about its unit sales and cost of sales. Period Units Sold Cost of Sales Period Units Sold Cost of Sales 1 0 $ 2,510 6 2,010 $ 6,128 2 410 3,248 7 2,410 6,848 3 810 3,968 8 2,810 7,568 4 1,210 4,688 9 3,210 8,288 5 1,610 5,408 10 3,610 9,008 Hint: (Draw an estimated line of cost behavior using a scatter diagram offline.) Complete the below table to calculate the fixed...
The following information is available for a company’s maintenance cost over the last seven months. Month...
The following information is available for a company’s maintenance cost over the last seven months. Month Maintenance Hours Maintenance Cost June 9 $ 5,450 July 18 6,900 August 12 5,100 September 15 6,000 October 21 6,900 November 24 8,100 December 6 3,600 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per maintenance hour Total cost at the high point Variable costs at the high point: Volume...
QUESTION 44 To follow is information about the units produced and total manufacturing costs for Pine...
QUESTION 44 To follow is information about the units produced and total manufacturing costs for Pine Enterprises for the past six months. Month Number of units produced Total manufacturing costs January 9000 $8500 February 7,500 $8,000 March 6,600 $7,550 April 6,800 $7,650 May 4000 $6700 June 7,000 $7,750 Using the high-low method, what is the monthly fixed manufacturing cost? (Round any intermediary calculations to the nearest cent.) $5260 $3240 $1800 $15,200
The following information is available for a company’s maintenance cost over the last seven months. Month...
The following information is available for a company’s maintenance cost over the last seven months. Month Maintenance Hours Maintenance Cost June 9 $ 4,590 July 18 7,110 August 12 5,430 September 15 6,270 October 21 7,950 November 24 8,790 December 6 3,750 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per maintenance hour 0 Total cost at the high point Variable costs at the high point:...
A company reports the following information for its first year of operations: Units produced this year...
A company reports the following information for its first year of operations: Units produced this year 650 units Units sold this year 500 units Direct materials $750 per unit Direct labor $1,000 per unit Variable overhead ? in total Fixed overhead $308,750 in total If the company's cost per unit of finished goods using variable costing is $2,375, what is total variable overhead? $237,500 $75,000 $312,500 $406,250 $97,500
High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data...
High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced Total Costs 100,000   $1,800,000 180,000   2,800,000 300,000   4,300,000 a. Determine the variable cost per unit and the fixed cost. Round variable cost per unit to the nearest cent. Variable cost per unit $__________ Fixed cost $__________ b. Based on part (a), estimate the total cost for 260,000 units of production. $___________
Cullumber Corp. has collected the following data concerning its maintenance costs for the past 6 months....
Cullumber Corp. has collected the following data concerning its maintenance costs for the past 6 months. Units Produced Total Cost July 20,190 $44,085 August 35,904 53,856 September 40,392 61,710 October 24,684 47,358 November 44,880 83,589 December 42,636 69,564 (a1) 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    (a2) Compute the fixed cost elements using the high-low method. Fixed costs
1.  Company’s high and low level of activity last year was 70000 units of product produced in...
1.  Company’s high and low level of activity last year was 70000 units of product produced in May and 24000 units produced in November. Machine maintenance costs were $167000 in May and $65800 in November. Using the high-low method, determine an estimate of total maintenance cost for a month in which production is expected to be 54000 units. 2.In applying the high-low method, what is the fixed cost? Month Miles Total Cost January 88000 $192000 February 54000   120000 March 80000   168000...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost...
High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 1,400 $230,400 2,210 294,400 3,400 358,400 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) $ per unit Total fixed cost: $ b. Based on part (a), estimate the...
#5 High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total...
#5 High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 975 $121,500 1,550 149,040 2,475 189,000 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) $ per unit Total fixed cost: $ b. Based on part (a), estimate...