Inspection costs at one of Iuliano Corporation's factories are listed below:
Units produced Inspection cost
February 911 $ 16,812
March 961 $ 17,200
April 917 $ 16,865
May 901 $ 16,710
June 923 $ 16,894
July 908 $ 16,780
August 925 $ 16,932
September 865 $ 16,300
October 904 $ 16,738
Management believes that inspection cost is a mixed cost that depends on units produced.
Using the high-low method, the estimate of the fixed component of inspection cost per month is closest to: (Round the intermediate calculations to two decimal places.)
$16,720.00
$16,301.00
$16,711.00
$8,185.82
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Inspection costs at one of Iuliano Corporation's factories are listed below: Units produced Inspection cost February 911 $ 16,812 March 961 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Match the following terms with a short description of that term: Consistency, Atomicity, Isolation, Durability, Serializability. a. The data used by one transaction can not be used by another transaction until the first one has completed. b.
Answers (1)
Brain Wing Inc. has won the bid to build airplanes for a host country government. However, the execution of the contract has been delayed due to certain unproductive, bureaucratic procedures in the less developed nation.
Answers (2)
In which of the following circumstances may auditors issue the standard (unmodified) report on the entity's financial statements? A.
Answers (1)
The decisions of financial institutions affect consumer spending. a. True b. False
Answers (1)
On May 2, Wainwright Company receives a $3,000, 4-month, 10% note from Fulton Company as a settlement of its accounts receivable. What entry will Wainwright Company make when it receives the note on May 2?
Answers (1)
New Questions in Business
Strawberry Fields purchased a tractor at a cost of $39,000 and sold it two years later for $25,300. Strawberry Fields recorded depreciation using the straight-line method, a five-year service life, and an $7,000 residual value. Required: 1.
Answers (2)
2. Buckeye Industries has a bond issue with a face value of $1000. The value of Buckeye's asset is $1200. In one year they will be worth either $800 or $1400. The going rate on T-bill is 4 percent.
Answers (1)
What are we willing and able to buy
Answers (1)
The account cash overage is which type of account? an asset account a liability account a miscellaneous revenue account a miscellaneous expense account
Answers (1)
Included in Vernon Corp.'s liability account balances at December 31, 2017, were the following: 7% note payable issued October 1, 2017, maturing September 30, 2018 $375,000 8% note payable issued April 1, 2017, payable in six equal annual
Answers (1)