Question
The manufacturing costs of Gregory Industries for three months of the year are provided below. Total Costs Production January $283,500 1,500 units February 441,000 4,000
The manufacturing costs of Gregory Industries for three months of the year are provided below.
| Total Costs | Production | |||
| January | $283,500 | 1,500 units | ||
| February | 441,000 | 4,000 | ||
| March | 398,480 | 2,920 | ||
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 | $fill in the blank 1 |
| b. Total fixed cost | $fill in the blank 2 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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
Accounting for Non-Accounting Students
Authors: John R. Dyson
8th Edition
273722972, 978-0273722977
