High-low method OBJ. 1 Diamond Inc. has decided to use the high-low method to estimate the total
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High-low method OBJ. 1 Diamond Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows:
Units Produced Total Costs 12,000 $424,000 15,000 496,000 21,000 640,000
a. Determine the variable cost per unit and the total fixed cost.
b. Based on part (a), estimate the total cost for 17,000 units of production.
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Related Book For 
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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