Audio Zone Co. needs to prepare pro forma financial statements for the next fiscal year....
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Audio Zone Co. needs to prepare pro forma financial statements for the next fiscal year. To do so, the company must forecast its total overhead cost. The actual machine hours and total overhead cost are presented below for the past six months Month Jan. Feb. Mar. Apr. May June Total Overhead $6,320 6,600 6,020 5,590 6,060 6,370 Machine Hours 1,990 2,100 1,750 1,600 1,870 2,920 Using the high-low method, total monthly fixed overhead cost is calculated to be Using the high-low method, total monthly fixed overhead cost is calculated to be Multiple Choice $2,077 $1,963 $2,284 $2.149 $2,358
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