The controller of further industries..accounting question The controller of Furgee Industries has collected the following monthly expense datafor use in analyzing the cost behavior of maintenance costs. Determine the fixedcomponent using the high-low method.Month Total Maintenance Costs Total Machine HoursJanuary $2,610310February 3,110460March 3,710610April4,610580May3,310510June5,320710

Step 1: Define High-Low MethodIn the context of accounting, the total costs incurred by a firm are…

Answered: The controller of Furgee Industries has…

Principles of Accounting Volume 2

19th Edition

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Author:OpenStax

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Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 9EB: The cost data for BC Billing Solutions for the year 2020 is as follows: Using the high-low method,...

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The controller of the Blade Company wants you to estimate a cost function from the following two observations in a general ledger account called Maintenance: (Click to view the information.) Required 1. Estimate the cost function for maintenance. 2. Can the constant in the cost function be used as an estimate of fixed maintenance cost per month? Explain. Requirement 1. Estimate the cost function for maintenance. (Round your answers to the nearest cent as needed.) Maintenance costs = Maintenance costs = +( +( X X Requirement 2. Can the constant in the cost function be used as an estimate of fixed maintenance cost per month? Explain. the relevant range, not at cost levels the relevant range. If there are no months with zero The cost function in requirement 1 is an estimate of how costs behave machine-hours represented in the maintenance account, data in that account function provides the best available starting point for a straight line that approximates how a cost behaves be used to…
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The controller of Sandhill Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month January February March April May June Variable cost per machine hour Total Maintenance Costs Determine the variable-cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Determine the fixed cost components using the high-low method. Fixed costs $2,825 3,210 3,852 4,815 3,424 5,476 Total Machine Hours 3,740 4,280 6,420 8,453 5,350 8,560 $ $
The controller of Sunland Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month TotalMaintenance Costs TotalMachine Hours January $2,590 330 February 2,890 380 March 3,490 530 April 4,390 660 May 3,090 530 June 5,470 730 Determine the variable cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.) Variable cost per machine hour $enter the variable cost per machine hour in dollars rounded to 2 decimal places Determine the fixed cost components using the high-low method. Total fixed costs $enter the total fixed costs in dollars
The controller of Blossom Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs: Total Total Month Maintenance Costs Machine Hours January $2,750 2,850 February 3,150 4,400 March 4,000 6.250 April 4,520 8,250 May 3,320 5.000 June 5,693 8,300 (a1) Determine the variable-cost component using the high-low method. (Round answer to 2 decimal places e.g. 12.25.)
The controller of Sandhill Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month January February March April May June (a1) Total Maintenance Costs $2,880 3,273 3,928 4,632 3,491 4,844 X Your answer is incorrect. Total Machine Hours 3,820 Variable cost per machine hour $ 4,364 6,546 8,619 5,455 8,730 Determine the unit variable costs using the high-low method for this mixed cost. (Round answer to 2 decimal places e.g. 2.25.) 1352
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Current Attempt in Progress The controller of Oriole Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month January February March April May June Total Maintenance Costs $2,860 3,160 3,760 4,660 3,360 5,260 Total Machine Hours 320 370 520 670 520 720

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