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Sandys Socks makes the worlds best socks. Information for the last eight months follows: Month Number of Socks Produced Total Cost January 3,000 $6,000 February
Sandys Socks makes the worlds best socks. Information for the last eight months follows:
Month | Number of Socks Produced | Total Cost | |
January | 3,000 | $6,000 | |
February | 6,320 | 11,429 | |
March | 3,500 | 6,900 | |
April | 5,800 | 10,050 | |
May | 4,250 | 8,950 | |
June | 1,250 | 2,810 | |
July | 2,550 | 5,200 | |
August | 3,900 | 7,500 | |
Using the high-low method, calculate the total fixed cost per month and the variable cost per sock. (Round your "Variable Cost per Unit" answer to 3 decimal places.)
variable Cost per Unit | |
Fixed Cost |
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