Question
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 | ______ |
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
4th Edition
0132423502, 978-0132423502
