Calculate the variable costs fxed costs and mixed costs

Reference no: EM13599883

A department of Omega Co. incurred the following costs for the
month of July. Variable costs, and the variable portion of mixed costs, are a function of
the number of units of activity:
Activity level in units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000
Variable costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20,000
Fixed costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60,000
Mixed costs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000
Total costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $120,000
During August the activity level was 16,000 units, and the total costs incurred were
$141,000.

Required:
a. Calculate the variable costs, ?xed costs, and mixed costs incurred during August.
b. Use the high-low method to calculate the cost formula for mixed cost.

Reference no: EM13599883

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