Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smithson's fixed costs per month. Round your final answer to the nearest dollar. Do not round interim calculations. Cost Machine Hours January $26,000 10,500 February 37,100 17,700 March 29,000 11,500 April 30,900 15,300 a.$9,812 b.$16,680 c.$7,850 d.$31,398

Answers

Answer 1

Answer:

Fixed Cost = $9812.499999941 rounded off to $9812

Option A is the correct answer

Explanation:

The high-low method is used to separate the components of a mixed cost and it calculates the variable cost component in a mixed cost. The formula to calculate the variable cost per unit under the high-low method is as follows,

VC/unit = [Highest Activity cost - Lowest Activity Cost] / [Highest Activity units - Lowest Activity units]

VC/unit = [37100 - 26000] / [17700 - 10500]

VC/unit = 1.54166666667 rounded off to $1.54

The total fixed costs will be,

Fixed cost = 37100 - [1.54166666667 * 17700]

Fixed Cost = $9812.499999941 rounded off to $9812


Related Questions

Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $48,000 and $76,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale and the remaining 40% in the following month. What is the expected cash collections from credit sales during the first month

Answers

Answer:

$28,800

Explanation:

Follow the given collection policy :

Cash Collection = 60 % in month of the sale + 40 %  in the following month

therefore,

During the first month :

Cash Collection = 60 % in month of the sale only

                            = $48,000 x 60 %

                            = $28,800

The expected cash collections from credit sales during the first month is $28,800

What leads to excess demand?
A. More people want a good or service than producers can supply.
B. Prices for a good or service increase more than consumers are willing
to pay.
C. Sellers decrease the prices of their goods or services.
D. The supply of a good or service is equal to the amount consumers want.

Answers

The answer you are looking for is c

Central Park Inc. is a company that sells women's clothing. It recently shut down its physical store and is operating as an app-based store now. The app allows users to access the store's products anytime and anywhere using their cell phones, and it also has features that allow users to compare the prices of similar products across different online stores. This scenario exemplifies _______. a. dual distribution b. a drop and shop program c. M commerce d. multichannel marketing

Answers

Answer:

c. M commerce

Explanation:

Since in the given situation it is mentioned that it recently shut down its physical store and operate now on app-based. In this the user could access at any time and anywhere via cell phones also it give the benefit to compare the prices

So this represent the m-commerce means mobile commerce. Users can operate it any time at anywhere without any use of laptop or desktop.

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Answers

Answer:

Explanation:na

HELWHWOWBEIEJSKSJEOEN


What would be the effects if a business didn't follow the matching principle?

Answers

Matching principles refers to that the expenses incurred during a period be recorded in the same period in which the related revenues are earned.

If a Business fails to follw the principle It may not be able to create proper financial statements and that may provide an inaccurate current position of the business

Hope it helps

Crazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,000 bars) are as follows: Ingredient Quantity Price Cocoa 500 lbs. $1.40 per lb. Sugar 100 lbs. $0.50 per lb. Milk 250 gal. $1.60 per gal. Determine the standard direct materials cost per bar of chocolate. Round to two decimal places. $fill in the blank 1 per bar

Answers

Answer:

Standard direct materials cost per bar of chocolate = $0.23 per bar

Explanation:

This can be calculated as follows:

Total standard cost of cocoa in a batch = 500 * $1.40 = $700

Total standard cost of Sugar in a batch = 100 * 0.50 = $50

Total standard cost of Milk in a batch = 250 * 1.60 = $400

Total standard costs for a batch of chocolate = $700 + $50 + $400 = $1,150

Number bars of chocolate in batch = 5,000

Therefore, we have:

Standard direct materials cost per bar of chocolate = Total standard costs for a batch of chocolate / Number bars of chocolate in batch = $1,150 / 5,000 = $0.23 per bar

Nancy Fur Supply has been selling fur coats to Patricia's Fur Shop pursuant to an existing contract. The price of fur pelts goes up sharply and Nancy concludes that she can no longer continue to supply the coats to Patricia's at the agreed price. Nancy asks Patricia to agree to a 10 percent increase in the price of the coats and Patricia agrees but then later changes her mind and refuses to pay the additional 10%. In that case, Patricia:

Answers

Answer:

In that case, Patricia:

is still liable to pay the additional 10%.

Explanation:

The 10% price increase was preceded by an agreement between the two parties.  Patricia is bound to honor her agreements with her business partner to sustain the business relationship.  Refusing to pay a debt just by a change of mind does not repudiate the contract.  Nancy can enforce the agreement in the court for specific performance of the contract because this additional agreement simply modifies the earlier contract and remains enforceable.

When the money market is drawn with the value of money on the vertical axis, an increase in the money supply causes the equilibrium value of money Group of answer choices to decrease, while the equilibrium quantity of money increases. and equilibrium quantity of money to decrease. and equilibrium quantity of money to increase. to increase, while the equilibrium quantity of money decreases.

Answers

Answer:

to decrease, while the equilibrium quantity of money increases.

Explanation:

an increase in money supply, leads to a rightward shift of the money supply curve. As a result, interest rate falls. money supply increases. There is an increase in equilibrium money supply but equilibrium value falls

Which section of a business plan gives details about a business's core products and services?
The
section of a business plan talks about a business's core products and services, and their features and benefits
to the consumers.

Answers

Answer:

an executive summary is compelling which reveals the company's mission statement, along with a short description of its products and services. its also good to briefly explain why you're starting your company and include details about your experience in the industry that you're entering

Today is your birthday, and you decide to start saving for your college education. You will begin college on your 18th birthday and will need $4,000 per year at the end of each of the following 4 years. You will make a deposit 1 year from today in an account paying 12 percent annually and continue to make an identical deposit each year up to and including the year you begin college. If a deposit amount of $2,542.05 will allow you to reach your goal, what birthday are you celebrating today

Answers

Answer:

yes,a very simple celebration

Suppose the Federal Reserve sets the reserve requirement at 14%, banks hold no excess reserves, and no additional currency is held. Instructions: In part a, round your answer to 1 decimal place. In parts b and c, enter your answers as a whole number. If you are entering a negative number include a minus sign. a. What is the money multiplier

Answers

Answer:

7.1%

Explanation:

Money multiplier measures the total increase in money multiplier

Money multiplier =1 / reserve requirement

1 / 14% = 7,1%

Fatuma invests a total of $22,000 in two accounts. The first account earned a rate of return of 15% (after a year). However, the second account suffered a 7% loss in the same time period. At the end of one year, the total amount of money gained was $110.00. How much was invested into each account

Answers

Answer:

$7,500 was invested in the account that gained 15%, while $14,500 was invested in the account that lost 7%.

Explanation:

Given that Fatuma invests a total of $ 22,000 in two accounts, and the first account earned a rate of return of 15% after a year while the second account suffered a 7% loss in the same time period, and at the end of one year the total amount of money gained was $ 110.00, to determine how much was invested into each account, the following calculation must be performed:

11,000 x 0.15 - 11,000 x 0.07 = 880

5,000 x 0.15 - 17,000 x 0.07 = -440

8,000 x 0.15 - 14,000 x 0.07 = 220

7,000 x 0.15 - 15,000 x 0.07 = 0

7,500 x 0.15 - 14,500 x 0.07 = 110

Therefore, $ 7,500 was invested in the account that gained 15%, while $ 14,500 was invested in the account that lost 7%.

You own a portfolio equally invested in a risk-free asset and two stocks. If one of the stocks has a beta of 1.12 and the total portfolio is equally as risky as the market, what must the beta be for the other stock in your portfolio

Answers

Answer:

Beta for the other stock = 1.88

Explanation:

A  portfolio is said to be as risky as the market where its beta is exactly equal to 1. A beta of greater than 1 implies the portfolio is riskier than the average market, and less risky where the beta is less than 1.

A portfolio that has an equal proportion of three asset would mean a weight of 1/3 for each asset

So we can represent the portfolio beta as follows:

1 = 1/3×(0) + 1/3× (1.12) + 1/3×y

1= 0.37 + 0.33y

0.33y = 0.626

y= 0.626/0.33

y= 1.88

Beta for the other stock = 1.88

Inventory records for Marvin Company revealed the following:
Date Transaction Number
of Units Unit
Cost
Mar. 1 Beginning inventory 990 $7.25
Mar. 10 Purchase 570 7.73
Mar. 16 Purchase 710 8.20
Mar. 23 Purchase 520 8.60

Marvin sold 1,900 units of inventory during the month. Cost of goods sold assuming FIFO would be

Answers

"8.60" (and any subsequent words) was ignored because we limit queries to 32 words.

Determine the future value if $5,000 is invested in each of the following situations: 7 percent for seven years

Answers

The answer is $8,030
Explanation:
Present Value (PV) = $5,000
Future Value(FV) = ?
Interest rate(r) = 7 percent
Number of years (N) = 7 years
The formula for future value is:
FV = PV(1+ r)^n
= $5,000(1+0.07)^7
$5,000(1.07)^7
$5,000 x 1.605781476
=$8,028.91
Approximately $8,030
Alternatively, we can use a Financial calculator:
N= 7; I/Y= 7, PV= -5,000 CPT FV= $8,028.91
Approximately $8,030

Help! Will give brainliest to the first correct answer!

Answers

Answer:

1. Four years college degree

2. An on job training experience

3. an endorsement from a professional, nongovernment organization

4. 2 year college degree

5. Earned after masters or bachelors degree

Explanation:

Hope that helps

Job Number Manufacturing Costs as of June 30 Manufacturing Costs in July 101 $ 3,800 102 3,200 103 960 $ 2,000 104 2,200 4,300 105 6,200 106 3,300 During July, jobs no. 103 and 104 were completed, and jobs no. 101, 102, and 104 were delivered to customers. Jobs no. 105 and 106 are still in process at July 31. a. Compute the work in process inventory at June 30. b. Compute the finished goods inventory at June 30. c. Compute the cost of goods sold during July. d. Compute the work in process inventory at July 31. e. Compute the finished goods inventory at July 31.

Answers

Answer:

(a) $3,160

(b) $7,000

(c) $13,500

(d) $9,500

(e) $2,960

Explanation:

(a). Work in Process = Manufacturing cost of 103 in June + Manufacturing cost of 104 in June

Work in Process = $960 + $2,200 = $3,160

(B). Finished goods = Manufacturing cost of 101 in June + Manufacturing cost of 102 in June

Finished goods = $3,800 + $3,200 = $7,000

(C) Cost of goods sold during July = Manufacturing cost of 101 in June + Manufacturing cost of 102 in June + Manufacturing cost of 104 in June + Manufacturing cost of 104 in July

Cost of goods sold during July = $3,800 + $3,200 + $2,200 + $4,300 = $13,500

(D) Work in process inventory = Manufacturing cost of 105 in July + Manufacturing cost of 106 in July

= $6,200 + $3,300 = $9,500

(E) Finished goods inventory = Manufacturing cost of 103 in June + Manufacturing cost of 103 in July

Finished goods inventory = $960 + $2,000 = $2,960

user add controls to a form

Answers

Do you have a question about it?

Answer: meeeeep

Explanation:

Manoel

QUESTION 16
You are a school photographer taking individual and class pictures for 2 classes of 21 students each. On average, each individual picture
takes 3 minutes and a class picture takes 10 minutes. About how long should it take you to get all of the pictures?
O A 1 hour 3 minutes
OB. 1 hour 13 minutes
OC. 2 hours 6 minutes
OD. 2 hours 16 minutes
OE 2 hours 26 minutes

Answers

i would say, D. 2 hours & 16 minutes

Direct materials purchases are estimated to be $300,000, $360,000 and $450,000 for June, July, and August, respectively. Cash payments are paid such that 60% are paid in the month incurred and 40% are paid in the following month. What are the budgeted cash payments for July and August, respectively

Answers

Answer:

$336,000 and $414,000

Explanation:

The computation of the budgeted cash payments for July and August is shown below:

For July month

= 60% of $360,000 (July) = $216,000

And,

= 40% of $300,000(June)

= $120,000

Total  = $336,000

For August

= 60% of $450,000(Aug)

= $270,000

And,

= 40% of $360,000(July)

= $144,000

Total = $414,000

The ending balance of accounts receivable was $84,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $369,000. Sales reported on the income statement were $400,500. Based on this information, the beginning balance in accounts receivable was:

Answers

Answer: $52500

Explanation:

Based on the information given in the question, the beginning balance in accounts receivable will be calculated thus:

= Ending balance of account receivable + Sales adjusted to cahs basis - Sales reported on income statement

= $84000 + $369000 - $400500

= $52500

Therefore, the beginning balance in account receivable is $52500.

Fischer Company uses 12,000 units of a part in its production process. The costs to make a part are: direct material, $15; direct labor, $27; variable overhead, $15; and applied fixed overhead, $32. Heath has received a quote of $60 from a potential supplier for this part. If Fischer buys the part, 75 percent of the applied fixed overhead would continue. Fischer Company would be better off by

Answers

Answer: $60,000

Explanation:

Total cost of producing the good internally:

= No. of units * (Direct material + Direct labor + Variable overhead + Applied fixed overhead)

= 12,000 * (15 + 27 + 15 + 32)

= $‭1,068,000‬

If the good is acquired externally for $60, they would still incur 75% of the applied fixed overhead:

= 12,000 * [ 60 + (75% * 32)]

= $‭1,008,000‬

If Fischer received from the supplier, they would save:

= 1,068,000 - 1,008,000

= $60,000

Fischer Company would be better off by $60,000 to buy the part.

Income statement under absorption costing and variable costing
The following information applies to the questions displayed below.
Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $140 per unit.
Manufacturing costs
Direct materials per unit $60
Direct labor per unit $22
Variable overhead per unit $8
Fixed overhead for the year $504,000
Selling and administrative costs
Variable selling and administrative cost per unit $12
Fixed selling and administrative cost per year $115,000
1a. Assume the company uses absorption costing. Determine its product cost per unit.
1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing.
2a. Assume the company uses variable costing. Determine its product cost per unit.
2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing.

Answers

Answer:

Results are below.

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

1)

First, we need to calculate the unitary fixed manufacturing overhead:

Fixed unitary manufacturing overhead= 504,000 / 42,000= $12

Now, the unitary production cost under the absorption costing method:

Unitary production cost= 60 + 22 + 8 + 12= $102

Finally, the income statement:

Sales= 34,000*140= 4,760,000

COGS= 34,000*102= (3,468,000)

Gross profit= 1,292,000

Total selling and administrative cost= 115,000 + 34,000*12= (523,000)

Net operating income= 769,000

2)

Unitary production cost= 60 + 22 + 8= $90

Now, the income statement:

Sales= 4,760,000

Total variable cost= (90 + 12)*34,000= (3,468,000)

Total contribution margin= 1,292,000

Total fixed overhead= (504,000)

Total selling and administrative cost= (115,000)

Net operating income= 673,000

Assume Cluck Home Remedy reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 1,730,200 $ 1,380,920 Allowance for Doubtful Accounts (96,000 ) (79,900 ) Accounts Receivable, Net $ 1,634,200 $ 1,301,020 Assume the company recorded no write-offs or recoveries during 2019. What was the amount of Bad Debt Expense reported in 2019

Answers

Answer: $16100

Explanation:

From the information given, we should note that the amount of bad debt expense reported in 2019 will be:

= Ending balance of the allowance account - Bginning balance of the allowance account.

= $96000 - $79900

= $16100

Therefore, the bad debt expense is $16100

least five data analysis techniques that could be used for research and describe the application of each​

Answers

What is your research on so it well be easier for me to help me

Select the communication type that is being used in the following example.
Two coworkers near the copy machine are discussing the upcoming company meeting.
o external formal communication
o external informal communication
O internal formal communication
O internal informal communication
Thing

Answers

Answer:

When the federal government spends more money than it receives in taxes in a ... spending over time in nominal dollars is misleading because it does not take ... defense spending as a share of GDP has generally declined since the 1960s, ... Healthcare expenditures include both payments for senior citizens (Medicare), ...

Explanation:

Select the examples that best demonstrate likely tasks for Health, Safety, and Environmental Management workers. Check all that apply.

Donovan inspects facilities, and enforces laws and regulations.
April drives a train safely and carefully.
Chuck collects samples of materials for analysis.
Leif repairs broken equipment in a factory.
Elise takes orders, and sells products to customers.
Shayla teaches others how to use equipment safely

Answers

Answer:

It is Donovan, Chuck, and Shayla. Or 1, 3, and 6. Or A, C, and F.

Explanation:

I just did the instruction on edge. Good luck finishing this year up :)

Answer:

136 is correct!

Explanation:

credits to the other person

ABC company is an all equity company and has 100,000 shares outstanding with a market price of $30 per share. It is considering alternative capital structures that use debt. If the company replaces 25% of its shares with debt, how much would be the total market value of the company under the new capital structure

Answers

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Sheffield Company had sales in 2019 of $1,842,400 on 65,800 units. Variable costs totaled $1,184,400, and fixed costs totaled $498,000. A new raw material is available that will decrease the variable costs per unit by 20% (or $3.60). However, to process the new raw material, fixed operating costs will increase by $93,000. Management feels that one-half of the decline in the variable costs per unit should be passed on to customers in the form of a sales price reduction. The marketing department expects that this sales price reduction will result in a 5% increase in the number of units sold. (a) Prepare a projected CVP income statement for 2020, assuming the changes have not been made. SHEFFIELD COMPANY CVP Income Statement Total Per Unit $ $ $ $

Answers

Answer:

Assuming that no changes happened, 2020 sales and expenses should be similar to 2019's:

                                       Total                        Per unit

Total sales                   $1,842,400                   $28

Variables costs           ($1,184,400)                  ($18)

Contribution margin    $658,000                    $10

Fixed costs                 ($498,000)                  ($7.57)

Operating income       $160,000                    $2.43

Blue Spruce Corp. reported net income of $194,740 for 2022. Blue Spruce Corp. also reported depreciation expense of $36,900 and a loss of $5,030 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,650 for the year, a $15,880 increase in accounts payable, and a $4,250 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Blue Spruce Corp. Partial Statement of Cash Flows Choose the accounting period Select an opening section name Select an item $Enter a dollar amount Adjustments to reconcile net income to Select an opening name for subsection Select an item $Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Enter a total amount for this subsection Select a closing section name $Enter a total amount for this section

Answers

Answer:

Blue Spruce Corp

Statement of Cash Flows for the year ended December 31, 2022

Operating activities section:

Net income                                          $194,740

add non-cash flow items:

    Depreciation expense                      36,900

    Loss on disposal of plant assets     54,030

Adjusted operating income             $285,670

Working capital changes:

Increase in accounts receivable         (15,650)

Increase in accounts payable              15,880

Increase in prepaid expenses             (4,250)

Net cash from operating activities $281,650

Explanation:

a) Data and Calculations:

Reported 2022 net income = $194,740

Depreciation expense = $36,900

Loss on disposal of plant assets = $54,030

Increase in accounts receivable = $15,650

Increase in accounts payable $15,880

Increase in prepaid expenses $4,250

b) The operating activities section is one section of the Statement of Cash Flows.  It shows the cash inflows and outflows from Spruce's normal business activities.  Other sections of Spruce's Statement of Cash Flows that show activities outside operating activities are the investment activities section and financing activities.

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