Use the following information for the Exercises below. (Algo)[The following information applies to the questions displayed below.]Felix & Company reports the following information.Units Produced Total Costs$ 2,5153,2353,9554,6755,3956,1156,8357,5558,2758,995Period1240080046.789.1,2001,6002,0002,4002,8003,2003,60010Exercise 18-5 (Algo) Measuring costs using high-low method LO P1(1) Use the high-low method to estimate the fixed and variable components of total costs.(2) Estimate total costs if 3,000 units are produced.X Answer is not complete.High-Low method - Calculation of variable cost per unitVariable cost perCost at high point minus cost at low point$8,995$1.14unit =Cost at low point minus cost at high point7,915 XHigh-Low method - Calculation of fixed costsTotal cost at the high point2$8,995Variable costs at the high pointVolume at the high point2 X unitsVariable cost per unit$1.14Total variable costs at the highpointTotal fixed costsTotal cost at the low point$2,515Variable costs at the low pointVolume at the low point2 XVariable cost per unitTotal variable costs at the lowpointTotal fixed costs(2) Estimated cost if 3,000 units are produced:Estimated total cost$7,915

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Description: Use the following information for the Exercises below. (Algo)[The following information applies to the questions displayed below.]Felix & Company reports the following information.Units Produced Total Costs$ 2,5153,2353,9554,6755,3956,1156,8357,5558

Solution Formula for high low method Variable cost per unit =(cost at high point – cost at low…

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Accounting

The following information applies to the questions displayed below. Felix & Company reports the following information. Units Produced Total CostS $ 2,515 3,235 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 Period 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 10 123456789의

The following information applies to the questions displayed below. Felix & Company reports the following information. Units Produced Total CostS $ 2,515 3,235 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 Period 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 10 123456789의

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11.2E: Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each...

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Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period 1 Units Produced Total Costs $ 2,515 3,235 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 400 3 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 6. 7 10 Exercise 18-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. Answer is not complete. High-Low method - Calculation of variable cost per unit Volume at low point minus volume at high point Variable cost per unit = $ 2,515 X $ 1.00 Volume at high point minus volume at low point 2,515 High-Low method - Calculation of fixed costs Total cost at the high point $ 8,995 Variable costs at the high point Volume at the high point 2 X units Variable cost per unit $ 1.00 Total variable costs at the high point Total…
uired intor Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. Units Produced Total Costs $ 2,515 3,235 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 Period 1 2 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 4 6. 7 10 Exercise 18-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. High-Low method - Calculation of variable cost per unit 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 (2)…
! Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period 1 Units Produced Total Costs 0 $ 2,820 123456789 200 3,660 400 4,500 600 5,340 800 6,180 1,000 7,020 1,200 7,860 1,400 8,700 1,600 9,540 10 1,800 10,380 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 2,820 units are produced.
Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (11,600 units at $225 each) Variable costs (11,600 units at $180 each) Contribution margin Fixed costs Income $ 2,610,000 2,088,000 522,000 315,000 $ 207,000 Exercise 18-19 (Algo) Evaluating strategies-new machine LO C2 The company is considering buying a new machine that will increase its fixed costs by $35,500 per year and decrease its variable costs by $8 per unit. Prepare a contribution margin income statement for the next year assuming the company purchases this machine. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales Variable costs Contribution margin Fixed costs Income/Loss
Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Total Costs $ 2,515 3,235 Y= 1234567899 10 Units Produced 0 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. X
Pia Manufacturing Company has developed the following overhead cost formulas: (refer to image) Based on these cost formulas. The total overhead cost expected if 200 machine hours are worked is: Cost Formula Depreciation P500 Set up P400 plus PO.20 per machine-hour P50 plus PO.25 per machine-hour PO.40 per machine-hour Lubrication Utilities a. P620 b. P900 c. P170 d. P1,120
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (10,900 units at $225 each) Variable costs (10,900 units at $180 each) Contribution margin Fixed costs Income $ 2,452,500 1,962,000 490,500 387,000 $ 103,500 Exercise 18-17 (Algo) Evaluating strategies- advertising LO C2 The marketing manager believes that increasing advertising costs by $78,000 will increase the company's sales volume to 12,300 units. Prepare a contribution margin income statement for the next year assuming the company incurs the additional advertising costs. Sales HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Variable costs Contribution margin Fixed costs 0 Income/Loss $ 0 G
Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (10,900 units at $225 each) Variable costs (10,900 units at $180 each) Contribution margin Fixed costs $ 2,452,500 1,962,000 490,500 387,000 $ 103,500 Income Exercise 18-11 (Algo) Computing break-even units and sales LO P2 1. Compute break-even point in units. 2. Compute break-even point in sales dollars. 1. Break-even units units 2. Break-even sales dollars
Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Units Produced Total Costs Period 1 2 0 400 $ 2,525 3,325 3 800 4,125 4 1,200 4,925 5 1,600 5,725 6 2,000 6,525 7 2,400 7,325 8 2,800 8,125 9 3,200 8,925 10 3,600 9,725 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. High-Low method - Calculation of variable cost per unit 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 High-Low method - Calculation of fixed costs+ (2) Estimated cost if 3,000 units are produced: Estimated total cost
Required information. Cost Classifications (Algo) [The following information applies to the questions displayed below] Kubin Company's relevant range of production is 26,000 to 35,500 units. When it produces and sells 30,750 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $8.50 $5.60 $ 3.10 1. Total amount of product cost 2. Total amount of period cost 3. Total amount of product cost 4 Total amount of period cost $6.60 $5.10 $.4.10 $2.00 $2.10 Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4] Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 30,750 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 30,750 units? 3. For…
! Required information Cost Classifications (Algo) [The following information applies to the questions displayed below.] Kubin Company's relevant range of production is 11,000 to 14,000 units. When it produces and sells 12,500 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $ 7.20 $4.20 $ 1.70 $5.20 $ 3.70 $2.70 $ 1.20 $ 0.70 Exercise 1-10 (Algo) Differential Costs and Sunk Costs [LO1-5] Required: 1. What is the incremental manufacturing cost incurred if the company increases production from 12,500 to 12,501 units? 2. What is the incremental cost incurred if the company increases production and sales from 12,500 to 12,501 units? 3. Assume Kubin Company produced 12,500 units and expects to sell 12,280 of them. If a new customer unexpectedly emerges and expresses interest in…
The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?