Shown below are units produced and total manufacturing costs for the past four months at Minda Manufacturing Corporation: Units Produced Total Cost Jul 120 P446,000 Aug 150 P508,000 Sep 180 P638,000 Oct 170 P668,000 What is Minda's cost formula for total manufacturing costunder the high-low method?

Shown below are units produced and total manufacturing costs for the past four months at Minda Manufacturing Corporation: Units Produced Total Cost Jul 120 P446,000 Aug 150 P508,000 Sep 180 P638,000 Oct 170 P668,000 What is Minda's cost formula for total manufacturing costunder the high-low method?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

Shown below are units produced and total manufacturing costs for the past
four months at Minda Manufacturing Corporation:

Units Produced Total Cost
Jul 120 P446,000
Aug 150 P508,000
Sep 180 P638,000
Oct 170 P668,000

What is Minda's cost formula for total manufacturing costunder the high-low
method?

Definition Definition Total cost of procuring or producing a product or the cost that an individual or business owner undertakes for the manufacturing of goods.

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