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Miami Company had the following unit production and total cost during the last 12 months: Months Production Total Volume Costs January 122 $ 5,123 February
Miami Company had the following unit production and total cost during the last 12 months: Months Production Total Volume Costs January 122 $ 5,123 February 154 $ 4,356 March 113 $ 3,670 April 98 $ 400 May 190 $ 5,800 June 90 $ 3,210 July 123 $ 3,456 August 111 $ 3,422 September 161 $ 5,468 October 78 $ 3,200 November 118 $ 4,125 December 132 $ 4,100 Required: Using the high-low method, estimate the company's variable cost per unit and total fixed costs.
| Miami Company had the following unit production and total cost during the last 12 months: | |||
| Months | Production | Total | |
| Volume | Costs | ||
| January | 122 | $ 5,123 | |
| February | 154 | $ 4,356 | |
| March | 113 | $ 3,670 | |
| April | 98 | $ 400 | |
| May | 190 | $ 5,800 | |
| June | 90 | $ 3,210 | |
| July | 123 | $ 3,456 | |
| August | 111 | $ 3,422 | |
| September | 161 | $ 5,468 | |
| October | 78 | $ 3,200 | |
| November | 118 | $ 4,125 | |
| December | 132 | $ 4,100 | |
| Required: Using the high-low method, estimate | |||
| the company's variable cost per unit and total fixed costs. |
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Financial and Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
12th edition
978-1133952428, 1285078578, 1133952429, 978-1285078571
