None Chastain Company accumulated the following data concerning a mixed cost using miles as the activitylevel.Month Miles Total costJanuary 40,000 $114,200February 50,000 $134,000March 70,000 $181,100April60,000 $161,000Using the high-low method, what does the unit variable cost?A. $1.91 per mileB. $2.04 per mileC. $2.23 per mileD. $1.61 per mile

Step 1: Define High Low Method:An accounting technique called the high-low method is used to…

Answered: Chastain Company accumulated the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Cullumber Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Miles Total Cost Driven Cost January 8,005 $14,170 March 8,500 $14,790 February 7,500 13,490 April 8,200 14,485 (a1) Your answer is correct. Compute the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places, e.g. 2.25.) Variable cost per mile (a2) eTextbook and Media $ 1.3 Compute the fixed costs using the high-low method for this mixed cost. Total fixed costs +A $ Attempts: 1 of 10 used
Cullumber Company accumulates the following data concerning a mixed cost, using miles as the activity level. MilesDriven TotalCost MilesDriven TotalCost January 8,005 $14,170 March 8,500 $14,790 February 7,500 13,490 April 8,200 14,485 (A) 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 $Type your answer here (B) Compute the fixed cost elements using the high-low method. Fixed costs $Type your answer here
Wildhorse Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Total Miles Total Driven Cost Driven Cost January 7,995 $14,145 March 8.500 $14,891 February 7.505 13,498 April 8.205 14.495 (a1) Compute the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places, e.g. 2.25.) Variable cost per mile $
Cullumber Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost Miles Total Driven Cost January 8,005 $14,170 March 8,500 $14,790 February 7,500 13,490 April 8,200 14,485 (a1) Compute the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places, e.g. 2.25.) Variable cost per mile +A $
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 7995 14180 March 8510 14909 February 7505 13502 April 8200 14495 a/ Compute the variable cost per mile using the high-low method. (Round answer to 2 decimal places) Variable cost per mile b/ Compute the fixed cost elements using the high-low method. Fixed costs
Connell Co. collects the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost January 10,000 $17,000 February 8,000 $13,500 March 9,000 $14,400 April 7,000 $12,500 Instructions: Compute the variable and fixed cost elements using the high-low method.
Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost January 8,015 February 7,510 $14,195 13,515 Miles Driven Total Cost March 8,500 $15,000 April 8,205 14,495 a. Compute the variable cost per mile using the high-low method. b. Compute the fixed cost elements using the high-low method.
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Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Total Miles Total Driven Cost Driven Cost January 8,000 $14,150 March 8,500 $15,000 February 7,500 13,500 April 8,200 14,490 Compute the variable- and fixed-cost elements using the high-low method
Benjamin Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost January 7,500 $20,000 February 8,200 $21,100 March 8,500 $22,000 April 8,300 $21,750 Compute the variable- and fixed-cost elements using the high-low method.Single line text.

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