Thompson Refrigerators Inc. needs to prepare pro forma financial statements for the next fiscal year....
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Thompson Refrigerators Inc. needs to prepare pro forma financial statements for the next fiscal year. To do so, the company must forecast its total overhead cost. The actual machine hours and total overhead cost are presented below for the past six months Total Month Overhead Jan. $8,460 Peb. 8,210 Mar. 8,590 Apr. 9,050 May 9,290 June 8,010 Machine Hours 2,180 2,100 2,330 2.800 2,890 2,090 Using the high-low method, total monthly fixed overhead cost is calculated to be: Multiple Choice $4666.00 $5.033.0 55.232.80 O $5,446,20 O $5,53730
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