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(a) Identify the high and low points. High point Low point Machine Hours tA $ tA $ $ GA Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.)

(a) Identify the high and low points. High point Low point Machine Hours tA $ tA $ $ GA Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.)

FINANCIAL ACCOUNTING
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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January February March April May June July August September October November December (a) High point Low point 500 540 Variable cost $ 350 430 650 700 320 510 230 750 Identify the high and low points. 850 600 Machine Hours $230 $320 $190 $220 $300 $330 $180 $260 $132 $360 $380 $340 LA +A Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.) per machine hour
Transcribed Image Text:January February March April May June July August September October November December (a) High point Low point 500 540 Variable cost $ 350 430 650 700 320 510 230 750 Identify the high and low points. 850 600 Machine Hours $230 $320 $190 $220 $300 $330 $180 $260 $132 $360 $380 $340 LA +A Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.) per machine hour
Compute the total fixed cost of electricity. (Round answer to 2 decimal places, e.g. 52.75.) Fixed cost (c) Save for Later Last saved 7 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. $ eTextbook and Media Represent the electricity cost function in equation form. (Round answers to 2 decimal places, e.g. 52.75.) Total cost = $ (d) eTextbook and Media Save for Later Last saved 8 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Total cost x MH+ $ $ Attempts: 0 of 3 used Submit Answer What is the expected electricity cost when 750 machine hours are used? (Round answer to 2 decimal places, e.g. 52.75.) eTextbook and Media Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:Compute the total fixed cost of electricity. (Round answer to 2 decimal places, e.g. 52.75.) Fixed cost (c) Save for Later Last saved 7 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. $ eTextbook and Media Represent the electricity cost function in equation form. (Round answers to 2 decimal places, e.g. 52.75.) Total cost = $ (d) eTextbook and Media Save for Later Last saved 8 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Total cost x MH+ $ $ Attempts: 0 of 3 used Submit Answer What is the expected electricity cost when 750 machine hours are used? (Round answer to 2 decimal places, e.g. 52.75.) eTextbook and Media Attempts: 0 of 3 used Submit Answer
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