Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Felix & Co. reports the following information about its unit sales and cost of sales. Period Units Sold Cost of Sales Period Units Sold Cost
Felix & Co. reports the following information about its unit sales and cost of sales.
Period | Units Sold | Cost of Sales | Period | Units Sold | Cost of Sales | ||||||||||||||||||
1 | 0 | $ | 2,630 | 6 | 2,130 | $ | 6,464 | ||||||||||||||||
2 | 530 | 3,584 | 7 | 2,530 | 7,184 | ||||||||||||||||||
3 | 930 | 4,304 | 8 | 2,930 | 7,904 | ||||||||||||||||||
4 | 1,330 | 5,024 | 9 | 3,330 | 8,624 | ||||||||||||||||||
5 | 1,730 | 5,744 | 10 | 3,730 | 9,344 | ||||||||||||||||||
Hint: (Draw an estimated line of cost behavior using a scatter diagram offline.)
Complete the below table to calculate the fixed cost and variable cost of sales by using the high-low method.
Hint Draw an estimated line of cost behavior using a scamerdiagram offline Complete the below table to calculate the fixed cost and varlable cost of sales by using the high-ow method. High-Low method - Calculation of variable cost per unit High-Low method - Calculation of fixed costs Total cost at the high point Variable costs at the high point Volume at the high point Variable cost per unit Total variable costs at the high point Total Fed costs Total cost at the low point Variable costs at the low point Volume at the low point Variable cost per unit Total variable costs at the low point Total fixed costsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started