FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Audio Zone Co. needs to prepare pro forma financial statements for the next fiscal year. To do so, the company must
forecast its total overhead cost. The actual machine hours and total overhead cost are presented below for the past
six months.
Total
Machine
Month
Overhead
Hours
Jan.
$6, 288
1,980
Feb.
6,460
2,090
Mar.
5,987
1,745
Apr.
5,559
1,560
Мay
6,032
1,865
June
6,341
2,012
Using the high-low method, total monthly fixed overhead cost is calculated to be:
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Transcribed Image Text:Audio Zone Co. needs to prepare pro forma financial statements for the next fiscal year. To do so, the company must forecast its total overhead cost. The actual machine hours and total overhead cost are presented below for the past six months. Total Machine Month Overhead Hours Jan. $6, 288 1,980 Feb. 6,460 2,090 Mar. 5,987 1,745 Apr. 5,559 1,560 Мay 6,032 1,865 June 6,341 2,012 Using the high-low method, total monthly fixed overhead cost is calculated to be:
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