Data below relate to the Torrence Company for May and August of the current year: May AugustMaintenance hours 25,000 29,000 Maintenance cost$1,175,000 $1,247,000 May and August were the lowest and highest activity levels, and Torrence uses the high-low method to analyze cost behavior. Which of the following statements is true?
A. The variable maintenance cost is $24 per hour.
B. The variable maintenance cost is $22 per hour.
C. The variable maintenance cost is $18 per hour.
D. The fixed maintenance cost is $72,000 per month.
E. More than one of the other answers is true.
Answer: C
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On November 1 . 2014, Balloon Company sold some limited edition art prints to Sitake Company for ¥47,850,000 to be paid on January 1 . 2015 . The current exchange rate on November 1 . 2014, was ¥110=$1, so the total payment at the current exchange rate would be equal to $435,000 . Balloon entered into a forward contract with a large bank to guarantee the number of dollars to be received
According to the terms of the contract, if ¥47,850,000 is worth less than $435,000, the bank will pay Balloon the difference in cash. Likewise, if ¥47,850,000 is worth more than $435,000, Balloon must pay the bank the difference in cash. Assuming the exchange rate on December 31 . 2014 is ¥115=$1, what amount will Balloon disclose as the fair value of the forward contract on December 31 . 2014 (answers rounded to the nearest dollar)? a. $0 b. $18,913 c. $20,714 d. $416,087
Legislative intent is an important factor used by courts in statutory interpretation
Indicate whether the statement is true or false
The _____ is the originator of the message in the communication process.
A. communicator B. encoder C. channeler D. sender E. receiver
Majer Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 6.4ounces$3.00per ounce$19.20Direct labor 0.4hours$13.00per hour$5.20Variable overhead 0.4hours$5.00per hour$2.00?The company reported the following results concerning this product in February. Originally budgeted output 4,800unitsActual output 4,900unitsRaw materials used in production 30,230ouncesActual direct labor-hours 1,910hoursPurchases of raw materials 32,600ouncesActual price of raw materials$2.90per ounceActual direct labor rate$12.40per hourActual variable overhead rate$4.90per hour?The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is
computed when the materials are purchased.?The labor efficiency variance for February is: A. $620 U B. $650 F C. $650 U D. $620 F