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Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow. Month Number of Units Produced Total Cost January 4,360 $65,600 February 250 $6,250 March 1,000 $15,000 April 5,000 $77,500 May 1,750 $32,500 June 3,015 $48,000 1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the High-Low Method. Recall that Total Costs = (Variable Cost Per Unit x Units Produced) + Fixed Cost. Complete the following table. Total Fixed Cost Variable Cost per Unit $750 X $20.00 X

Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow. Month Number of Units Produced Total Cost January 4,360 $65,600 February 250 $6,250 March 1,000 $15,000 April 5,000 $77,500 May 1,750 $32,500 June 3,015 $48,000 1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the High-Low Method. Recall that Total Costs = (Variable Cost Per Unit x Units Produced) + Fixed Cost. Complete the following table. Total Fixed Cost Variable Cost per Unit $750 X $20.00 X

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 39E: Cost Classification Loring Company incurred the following costs last year: Required: 1. Classify...
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1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the High-Low Method. Recall that Total Costs = (Variable Cost Per Unit x Units Produced) + Fixed Cost. Complete the following table. Total Fixed Cost Variable Cost per Unit $750 X $20.00 X Points: 0/2 2. With your Total Fixed Cost and Variable Cost per Unit from the High-Low Method, compute the total cost for the following values of N (Number of Units Produced). Number of Units Produced Total Costs 3,500 $70,750 X 4,360 $87,950 X 5,000 $101,250 X K Points: 0/3
Transcribed Image Text:1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the High-Low Method. Recall that Total Costs = (Variable Cost Per Unit x Units Produced) + Fixed Cost. Complete the following table. Total Fixed Cost Variable Cost per Unit $750 X $20.00 X Points: 0/2 2. With your Total Fixed Cost and Variable Cost per Unit from the High-Low Method, compute the total cost for the following values of N (Number of Units Produced). Number of Units Produced Total Costs 3,500 $70,750 X 4,360 $87,950 X 5,000 $101,250 X K Points: 0/3
Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow. Month Number of Units Produced Total Cost January 4,360 $65,600 February 250 $6,250 March 1,000 $15,000 April 5,000 $77,500 May 1,750 $32,500 June 3,015 $48,000 1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the High-Low Method. Recall that Total Costs = (Variable Cost Per Unit x Units Produced) + Fixed Cost. Complete the following table. Total Fixed Cost Variable Cost per Unit $750 X $20.00 X
Transcribed Image Text:Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow. Month Number of Units Produced Total Cost January 4,360 $65,600 February 250 $6,250 March 1,000 $15,000 April 5,000 $77,500 May 1,750 $32,500 June 3,015 $48,000 1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the High-Low Method. Recall that Total Costs = (Variable Cost Per Unit x Units Produced) + Fixed Cost. Complete the following table. Total Fixed Cost Variable Cost per Unit $750 X $20.00 X
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