pedugen.wileyplus.com/edugen/student/mainfr.uni S Kimmel, Accounting, 6e Practic

Question

pedugen.wileyplus.com/edugen/student/mainfr.uni S Kimmel, Accounting, 6e Practice Gradebook ORION Downloadable eTextbook ignment Brief Exercise 18-4 Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Total Driven Cost Miles Total Driven Cost January 7,990 $14,120 March 8,490 $14,976 February 7,505 13,498 Apni 8,195 14,485 Compute the variable cost per mile using the high-low method. (Round variable cost per mile to 2 decimal places e.g. 1.25.) Variable cost per mle Compute the foxed cost elements using the high-low method Fixed costs Click if you would like to Show Work for this question INTERACTVE FUTORIAL Question Attempts: of 3u .com/edugen/shared o 9 ere to search 5 6 7 8

Explanation / Answer

Variable cost per mile = Change in cost/change in mile

= (14976-13498)/(8490-7505)

Variable cost per mile = 1.50 per mile

Fixed cost= Total cost-variable cost

= 14976 - (8490*1.5)

FIxed cost = 2241

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