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Luke Ricci, CPA_High Low Method




Question;Luke;Ricci, CPA, is the owner of a firm that provides tax services. The firm charges;$50 per return for the direct professional labor involved in preparing standard;short-form tax returns. In January, the firm prepared 850 such returns, in;February, 1,000, and in March, 700. Service overhead (telephone and utilities;depreciation on equipment and building, tax forms, office supplies, and wages;of clerical personnel) for January was $18,500, for February, $20,000, and for;March, $17,000.;1. Determine the variable and fixed cost components of the firm?s Service;Overhead account.;2. What would the estimated total cost per tax return be if the firm prepares;825 standard short-form tax returns in April?


Paper#37334 | Written in 18-Jul-2015

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