The following data have been extracted from the records of Riddle Co.: ...
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Accounting
The following data have been extracted from the records of Riddle Co.:
July
December
Production level, in units
9,500
15,200
Variable costs
$
23,750
$
?
Fixed costs
?
38,600
Mixed costs
20,855
?
Total costs
$
83,205
$
107,088
Required:
(a)
Calculate the missing costs. (Do not round your intermediate calculations. Omit the "$" sign in your response.)
July
December
Production level, in units
9,500
15,200
Variable costs
$
23,750
$
Fixed costs
38,600
Mixed costs
20,855
Total costs
$
83,205
$
107,088
(b)
Calculate the cost formula for mixed cost using the high-low method. (Do not round your intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Cost formula
=
$
+
$
per unit
Answer & Explanation
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