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Estimate of the variable component of inspection

Inspection costs at one of Krivanek Corporation's factories are listed below:

Units Produced Inspection cost

January 630 $8850
February 615 $8819
March 602 $8760
April 595 $8743
May 688 $9036
June 626 $8866
July 646 $8920
August 670 $8977
September 678 $9013

Management believes that inspection cost is a mixed cosst that depends on units produced.

Using the high low method, the estimate of the variable component of inspection is closest to: $3.15, $0.32, $3.40 or $13.91

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Estimate of the variable component of inspection

Reference No:- TGS01619863

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Variable overhead on the basis of direct labor-hours

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Estimate of the variable component of inspection

Reference No:- TGS01619863

Recent Questions Asked Accounting Basics

Q : Variable overhead on the basis of direct labor-hours

Q : Calculate the critical path for the network

Q : What is the entity default taxclassification

Q : Reconstructing the records of axy company

Q : Estimate of the variable component of inspection

Q : Calculate the net proceeds of public issue

Q : Sources and uses of cash during the period

Q : Potential benefits and risks associated with change

Q : Calculate the firms operating cycle

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