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Question 2 Answer saved Marked out of 2.00p Flag question Relevant Range and High-Low Method The following selected data relate to the major cost categories
Question 2 Answer saved Marked out of 2.00p Flag question Relevant Range and High-Low Method The following selected data relate to the major cost categories experienced by Shaw Company at varying levels of operating volumes. Assuming that all operating volumes are within the relevant range, calculate the appropriate costs in each column in which blanks appear: Total Cost @ 3,000 Units) Total Cost ( 4,000 units Variable Cost per Unit Total Fixed Cost Total Cost (@5,000 units) Direct labor (variable) $75,000 $100,000 $ 0 $ Factory supervision (semi-variable) 50,000 65,000 $ Factory depreciation (fixed) 45,000 45,000 $ 0 $ $ 0 $ 0 Previous A Save Answers Taylor Corporation is determining the cost behavior of several items in order to budget for the upcoming year. Past trends have indicated the following dollars were spent at three different levels of output. Unit Levels 10,000 12,000 15,000 Cost A | $25,000 $29,000 $35,000 Cost B 10,000 15,000 15,000 15,000 18,000 22,500 In establishing a budget for 14,000 units, Taylor should treat Costs A, B, and C, respectively, as Select one: a. mixed, fixed, and variable. O b. Variable, fixed, and variable. o c. mixed, mixed, and mixed. O d. variable, mixed, and mixed. Question 3 Answer saved Marked out of 2.00 P Flag question Interpreting Regression Output Rikki Bake, the controller for XYZ Incorporated, suspects that factory overhead costs are driven by the number of machine hours used. Using Excel, Ms. Bake input twelve months of historical data for total factory overhead costs and machine hours used. The summary output information is provided below. Use the output information provided to develop a cost formula for overhead cost. H SUMMARY OUTPUT Regression Statistics Multiple R 0.963809718 R Square 0.928929173 Adjusted R Square 0.92182209 Standard Error 56.42709871 Observations 7 8 10 ANOVA df F 130.7047086 MS 416166.0753 3184.017469 Significance F 4.6008E-07 12 Regression 13 Residual Total 416166.0753 31840.17469 448006.25 10 11 Stat P-value Lower 95% Upper 95% Lower 95% Upper 95% 17 Intercept 18 Machine Hours Coefficients $970.12 36.138 Standard Error 415.4592475 3.160962926 2.335045169 11.432616 0.0416902 4.6008E-07 44.41521808 29.09501101 1895.816999 43.18113962 44.41521808 29.09501101 1895.816999 43.18113962 Complete the formula below. Round answers to two decimal places. Overhead Cost = $ 0 +($ 0 x machine hours) Question 4 Answer saved Marked out of 2.00 p Flag question Net Income Planning Selected operating data for Oakbrook Company in four independent situations are shown below. Fill in the blanks for each independent situation. - Bc Sales $325,000 $ 0 c. $ 0e. $130,000 Variable expense 0 a $101,000 Fixed expense o b. $62,000 $48,200 $44,500 Net income (loss) before tax $15,000 $15,000 $28,800 $(5,500) Units sold 30,000 O d. Unit contribution margin $5.20 $7.00 Contribution margin ratio 0.4 0 h. $ 0 g
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