5. The MTN Company has assembled the following data pertaining to certain costs which cannot be easily identified as either fixed or variable. MTN has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation Cost Hours $100,000 61,000 85,000 78,200 3,500 2,000 2,600 2,450 3,000 3,900 3,740 3,380 91,000 110,400 106,000 93,000 Calculate the variable cost per hour Calculate the total fixed costs Write the equation which measures the cost behaviour of the costs Calculate the operating costs for 3,750 hours.

5. The MTN Company has assembled the following data pertaining to certain costs which cannot be easily identified as either fixed or variable. MTN has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation Cost Hours $100,000 61,000 85,000 78,200 3,500 2,000 2,600 2,450 3,000 3,900 3,740 3,380 91,000 110,400 106,000 93,000 Calculate the variable cost per hour Calculate the total fixed costs Write the equation which measures the cost behaviour of the costs Calculate the operating costs for 3,750 hours.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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