Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lichtenstein imports needs to determine the variab

Lichtenstein Imports needs to determine the variable utilities rate per machine hour in order to...

90.2K

Verified Solution

Question

Accounting

Lichtenstein Imports needs to determine the variable utilities rate per machine hour in order to estimate cost for August. Relevant information is as follows.

Month Machine Hours Worked Utilities Cost
April 5,950 10,360
May 5,800 10,240
June 8,100 12,325
July 10,200 14,600

Lichtenstein anticipates producing 6,600 units in August, each unit requiring 2.5 hours of machine time. The company uses the high-low method to analyze costs. Required: A. Calculate the variable and fixed components of the utilities cost. B. Using the data calculated above, estimate the utilities cost for August. For all requirements, round "variable cost per hour" to 2 decimal places and final answers to the nearest dollar amount.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

After 1.60 mol of NH3 gas is placed in a 1600-cm^3 box at 25 degrees C,...

Chemistry
Q

1. Macaroni Unlimited, Ltd. (MUL), is trying to decide whether or not to enter the spaghetti...

Economics
Q

Two 10-cm-diameter charged rings face each other, 20.0 cmapart. Both rings are charged to + 10.0...

Physics
Q

Choose the correct answer Periodic expense is O insurance payments O grocery expenses O mortgage...

Algebra
Q

Cul de los siguientes describe mejor la computacin en la nube? Grupo de...

Accounting
Q

Lowellson Company had sales of $200,000, net income of $10,000, and an asset base of...

Accounting
Q

Movers Company manufactures sneakers. The production of its new sneakers for the coming three months...

Accounting
Q

Sheridan Company had the following assets on January 1, 2017. Item Cost...

Accounting
Q

Exercise 5-16 A comparative balance sheet for Cullumber Corporation is presented below December 31 2017...

Accounting
Q

Fix the wrong answers please Required information The following information...

Accounting
Q

25. The price of a stock with no dividends, is $35 and the strike price...

Finance
Q

Here are book- and market-value balance sheets of the United Frypan Company (figures in \$...

Finance