1 answer

Question 1 Mace Company accumulates the following data concerning a mixed cost, using miles as the...

Question:

Question 1 Mace Company accumulates the following data concerning a mixed cost, using miles as the activity level. January 10.00 $15,000 13,500 4,400 12,500 February 8,00 March 9,000 7,500 April Instructions Compute the variable and fixed cost elements using the high-low method.
Question 1 Mace Company accumulates the following data concerning a mixed cost, using miles as the activity level. January 10.00 $15,000 13,500 4,400 12,500 February 8,00 March 9,000 7,500 April Instructions Compute the variable and fixed cost elements using the high-low method.

Answers

Answers

  • All working forms part of the answer
  • High Low Working

Months

Miles drivem

Cost

High Level

January

                          10,000

$                   15,000.00

Low Level

April

                            7,500

$                   12,500.00

Difference

                            2,500

$                     2,500.00

  • Variable cost per miles driven

Difference in Cost

$                                                               2,500.00

Difference in miles

                                                                        2,500

Variable cost per unit

$                                                                       1.00 [$2500 / 2500]

  • Fixed Cost

Working

High Level

Low Level

A

Total Cost

$                 15,000.00

$                   12,500.00

B

Total miles driven

10000

7500

C

Variable cost per unit

$                           1.00

$                             1.00

D = B x C

Total Variable cost

$                 10,000.00

$                     7,500.00

E = A - D

Total Fixed Cost

$                   5,000.00

$                     5,000.00

  • Answers

--Variable cost = $ 1.00 per mile driven

--Fixed C0st = $ 5000 per month

.

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