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The controller of Crane Production has collected the following monthly cost data for analyzing the behavior of electricity costs.     Total Electricity Costs   Total Machine Hours January     $2,620       230   February     3,010       370   March     3,590       460   April     4,770       695   May     3,240       400   June     4,850       790   July     4,100       620   August     3,850       550   September     5,110       680   October     4,300       620   November     3,310       370   December     9,000       810   (a)     Determine the fixed costs and unit variable costs using the high-low method. Total fixed costs   $enter a dollar amount Variable cost per machine hour

The controller of Crane Production has collected the following monthly cost data for analyzing the behavior of electricity costs.     Total Electricity Costs   Total Machine Hours January     $2,620       230   February     3,010       370   March     3,590       460   April     4,770       695   May     3,240       400   June     4,850       790   July     4,100       620   August     3,850       550   September     5,110       680   October     4,300       620   November     3,310       370   December     9,000       810   (a)     Determine the fixed costs and unit variable costs using the high-low method. Total fixed costs   $enter a dollar amount Variable cost per machine hour

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The controller of Crane Production has collected the following monthly cost data for analyzing the behavior of electricity costs.

   
Total
Electricity Costs
  
Total
Machine Hours
January
    
$2,620
      
230
  
February
    
3,010
      
370
  
March
    
3,590
      
460
  
April
    
4,770
      
695
  
May
    
3,240
      
400
  
June
    
4,850
      
790
  
July
    
4,100
      
620
  
August
    
3,850
      
550
  
September
    
5,110
      
680
  
October
    
4,300
      
620
  
November
    
3,310
      
370
  
December
    
9,000
      
810
  

(a)

 
 
Determine the fixed costs and unit variable costs using the high-low method.

Total fixed costs
  
$enter a dollar amount
Variable cost per machine hour

 

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