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Ipatiy [6.2K]
3 years ago
6

At the high level of activity in November, 8000 machine hours were run and power costs were $16000. In April, a month of low act

ivity, 3000 machine hours were run and power costs amounted to $7000. Using the high-low method, the estimated fixed cost element of power costs is
Business
1 answer:
Molodets [167]3 years ago
5 0

Answer:

Fixed cost = $1,600

Explanation:

We know,

Total cost = Variable cost + Fixed cost.

And, <em>Using high-low method, variable cost per unit</em> = (Highest cost - Lowest cost) ÷ (Highest Activity - Lowest Activity)

Given,

Highest cost = $16,000

Lowest cost = $7,000

Highest Activity = 8,000 machine hours

Lowest Activity = 3,000 machine hours

Therefore, <em>Using high-low method, variable cost per unit</em> = $(16,000 - 7,000) ÷ (8,000 - 3,000) machine hours

variable cost per unit = $9,000 ÷ 5,000 machine hours = $1.8

Using highest activity and highest cost (Month of November),

Total cost = Variable cost + Fixed cost.

Total cost = (Variable cost per unit x Total activity) + Fixed cost

$16,000 = ($1.8 × 8,000 hours) + Fixed cost

or, $16,000 = $14,400 + Fixed cost

or, $16,000 - 14,400 = Fixed cost

Therefore, Fixed cost = $1,600

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1 year ago
Pine Corp. produces three products, and currently has a shortage of machine hours since one of its two machines is down. The sel
yulyashka [42]

Answer:

product B

Explanation:

The computation is shown below;

<u>Particulars           Product A          Product B             Product C </u>

Selling Price            $5.00                $3.00                  $5.00

Less: Variable cost per unit ($3.50)   ($2.00)               ($2.00)

Contribution per unit     $1.50               $1.00                $3.00

Machine hours per unit   0.75                 0.25                    1

Contribution per machine hour $2.00   $4.00            $3.00

                                         ($1.50 ÷ 0.75)  ($1.00 ÷ 0.25)   ($3.00 ÷ 1)

The product B should be produced as it has the highest contribution per machine hour

6 0
3 years ago
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Answer:

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2. Transportation is an explicit cost

3. Forfeited working experience is an implicit cost

4. Books and materials is an explicit cost

5. Forgone earnings are an implicit cost

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