6. The Kentucky Tools Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month January April July October Cost of Electricity (Y) Direct Labor-Hours (X) $7,000 750 $7,500 850 $8,500 $7,250 1,000 800 What would be the best equation using the high-low method? A) Y = $2,000+ $7.50X B) Y= $2,500 + $6X C) Y= $1,500 + $8X D) Y = $2,000 + $6X

6. The Kentucky Tools Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month January April July October Cost of Electricity (Y) Direct Labor-Hours (X) $7,000 750 $7,500 850 $8,500 $7,250 1,000 800 What would be the best equation using the high-low method? A) Y = $2,000+ $7.50X B) Y= $2,500 + $6X C) Y= $1,500 + $8X D) Y = $2,000 + $6X

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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