Solomon Woodcraft Company manufactures "antique" wooden cabinets to house modern televisions. The Company began operations...

90.2K

Verified Solution

Question

Accounting

image
image
image
Solomon Woodcraft Company manufactures "antique" wooden cabinets to house modern televisions. The Company began operations in January of last year. Sidney Myrick, the owner, asks for your assistance. He believes that he needs to better understand the cost of the cabinets for pricing purposes. You have collected the following data concerning actual production over the past year: Number of Cabinets Produced 810 3,660 1.940 630 Month January February March April May June July August September October November December 1,650 1,280 1.190 1,790 2.330 2,950 3,270 370 Total Cost $21,600 32.800 29,400 18,700 20, 500 27,700 25,900 31,600 33,000 31,700 32.000 13,060 Required a. To understand the department's cost behavior, you decide to plot the points on graph paper and sketch a total cost line. (1) Enter the number of units and their costs in increasing order. b. Using the high-low method, compute the total cost equation for the preceding data. (1) Compute the variable cost per unit. (2) Compute total fixed costs. (4) Calculate the total cost assuming 1.200 cabinets are made. Complete this question by entering your answers in the tabs below. Required A Required B Enter the number of units and their costs in increasing order. (1) Compute the variable cost per unit (2) Compute total fixed costs. (4) Calculate the total cost assuming 1,200 cabinets are made. Complete this question by entering your answers in the tabs below. Required A Required B Enter the number of units and their costs in increasing order Month Number of Cabinets Produced Total Cost Required B > Required a. To understand the department's cost behavior, you decide to plot the points on graph paper and sketch a total cost line. (1) Enter the number of units and their costs in increasing order. b. Using the high-low method, compute the total cost equation for the preceding data. (1) Compute the variable cost per unit. (2) Compute total fixed costs. (4) Calculate the total cost assuming 1,200 cabinets are made. Complete this question by entering your answers in the tabs below. Required A Required B Using the high-low method, compute the total cost equation for the preceding data. Compute the variable cost per unit, total fixed costs, and total cost assuming 1,200 cabinets are made. Variable cost per unit Totalfixed costs Total costs

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students