1) Using the high-low method, how much is the total cost of producing 130 grams of honey?2) How much is the total cost of producing 150 grams of honey if the company uses the least squares method. The cost accountant of Sweet Company recorded these cost of producing honeybee:DaysGrams ProducedTotal Cost IncurredMon100751,000600TuesWed25400Thur1501,5001,600600Fri175Sat50Sun1251,300

a) Variable Cost Per Grams = (Highest Activity Cost - Lowest Activity Cost) / (Highest Activity…

|The cost accountant of Sweet Company recorded these cost of producing honeybee: Days Mon Grams Produced Total Cost Incurred 100 75 1,000 600 P Tues Wed 25 400 Thur 150 175 50 1,500 1,600 600 Fri Sat Sun 125 1,300

|The cost accountant of Sweet Company recorded these cost of producing honeybee: Days Mon Grams Produced Total Cost Incurred 100 75 1,000 600 P Tues Wed 25 400 Thur 150 175 50 1,500 1,600 600 Fri Sat Sun 125 1,300

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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Question

1) Using the high-low method, how much is the total cost of producing 130 grams of honey?

2) How much is the total cost of producing 150 grams of honey if the company uses the least squares method.

The cost accountant of Sweet Company recorded these cost of producing honeybee:
Days
Grams Produced
Total Cost Incurred
Mon
100
75
1,000
600
Tues
Wed
25
400
Thur
150
1,500
1,600
600
Fri
175
Sat
50
Sun
125
1,300

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