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Author Question: King Comics is a wholesaler of popular comic books. The company's records indicate the following ... (Read 61 times)

byomi

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on: Feb 5, 2023

Question 1

Complete the following table, identifying the following as fixed, variable or mixed cost.

​​Activity levelCost Behavior
​​5,000 Units6,000 Units7,000 UnitsF, V, M
Cost A$15,000$16,000$17,000​
Cost B5,0006,0007,000​
Cost C15,00015,00015,000​
Cost D10,00012,00014,000​
Cost E1,2001,3001,400​


Question 2

King Comics is a wholesaler of popular comic books. The company's records indicate the following financial results:

Current YearPrevious Year
Units Sold50,00040,000
Sales revenue$250,000$200,000
Cost of goods sold 175,500 140,000
Gross margin  74,500  60,000
Operating expenses   23,500   20,000
Net operating income$  51,000$  40,000

Using the high-low method, what is the company's estimated variable and fixed components of operating expenses?
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by byomi on Feb 5, 2023

KAyteeBee1129

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Reply #1 on: Feb 5, 2023
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byomi

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Reply 2 on: Feb 5, 2023
YES! Correct, THANKS for helping me on my review

sarah_brady415

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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