Answer: A
Explanation:
Balance sheet report the financial position for a specific period
Answer:
Yes
Explanation:
Because it have to stay the same
Answer:
Supplies would be increased by $1,000
Cash would be decreased by $400
Accounts Payable would be increased by $600
Explanation:
Given that
Supplies costing = $1,000
Out of which $400 is paid by cash
And, the remaining amount i.e
= $1,000 - $400
= $600
This remaining amount would be on account i.e account payable
Since cash is paid so it decreased by $400 and supplies is purchased for $1,000 that means supplies increases by $1,000 and account payable is also increased by $600
Answer:25,000
Explanation:
Mode is what repeats the most
In cost accounting, the high-low method is a way of attempting to separate out fixed and variable costs given a limited amount of data. The high-low method involves taking the highest level of activity and the lowest level of activity and comparing the total costs at each level. If the variable cost is a fixed charge per unit and fixed costs remain the same, it is possible to determine the fixed and variable costs by solving the system of equations.
1. Calculate variable cost per unit using the identified high and low activity levels
Variable cost = (Total cost of high activity – Total cost of low activity) / (Highest activity unit – Lowest activity unit)
((112,000 X .167) - (168,000 X .132)) / (168,000-112,000) = variable costs
2. Solve for fixed costs
To calculate the total fixed costs, plug either the high or low cost and the variable cost into the total cost formula.
It doesn't appear that you have enough information to answer this section. You need to know total cost to be able to answer this.
Total cost = (Variable cost per unit x units produced) + Total fixed cost
3. Construct total cost equation based on high-low calculations
