Answered step by step
Verified Expert Solution
Question
1 Approved Answer
High-Low Method The manufacturing costs of Erin Industries for three months of the year are provided below. Total Costs Production January $241,920 2,100 units February
High-Low Method
The manufacturing costs of Erin Industries for three months of the year are provided below.
| Total Costs | Production | |||
| January | $241,920 | 2,100 | units | |
| February | 321,480 | 3,860 | ||
| March | 376,320 | 6,300 | ||
Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost. Round all answers to the nearest whole dollar.
| a. Variable cost per unit | ______ |
| b. Total fixed cost | ______ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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