The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) $117,900 80,700 102,600 April May June 275,000 164,500 248,100 Using the high-low method, the variable cost per unit and the total fixed costs are a. $0.61 per unit and $12,200 Ob. $6.12 per unit and $2,440 Oc. $0.34 per unit and $24,400 Od. $3.40 per unit and $2,440

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question
The manufacturing costs of Calico Industries for three months of the year are provided below:
Total Cost Production (units)
$117,900
80,700
102,600
April
May
June
275,000
164,500
248,100
Using the high-low method, the variable cost per unit and the total fixed costs are
Oa. $0.61 per unit and $12,200
b. $6.12 per unit and $2,440
c. $0.34 per unit and $24,400
Od. $3.40 per unit and $2,440
Transcribed Image Text:The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) $117,900 80,700 102,600 April May June 275,000 164,500 248,100 Using the high-low method, the variable cost per unit and the total fixed costs are Oa. $0.61 per unit and $12,200 b. $6.12 per unit and $2,440 c. $0.34 per unit and $24,400 Od. $3.40 per unit and $2,440
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education