Please answer complete (c)What electricity cost does the cost equation estimate for a level of activity of 790 machine hours?Electricity costs$By what amount does this differ from June's observed cost for 790 machine hours?Amount differeTextbook and Media CoSts.TotalTotalElectricity CostsMachine HoursJanuary$2,370210February2,920390March3,580470April4,530690May3,210470June4,980790July4,150625August3,850530September5,160665October4,240605November3,240390December6,570810(a)Your answer is correct.Determine the fixed- and variable-cost components using the high-low method.Fixed-costs900Variable cost per machine hour7eTextbook and MediaAssistance UsedAttempts: 1 of 2 used%24

The high-low method is used to differentiate the mixed cost. The mixed cost is the combination of…

(c) What electricity cost does the cost equation estimate for a level of activity of 790 machine hours? Electricity costs $ By what amount does this differ from June's observed cost for 790 machine hours? Amount differ %24

(c) What electricity cost does the cost equation estimate for a level of activity of 790 machine hours? Electricity costs $ By what amount does this differ from June's observed cost for 790 machine hours? Amount differ %24

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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Concept explainers

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Please answer complete

(c)
What electricity cost does the cost equation estimate for a level of activity of 790 machine hours?
Electricity costs
$
By what amount does this differ from June's observed cost for 790 machine hours?
Amount differ
eTextbook and Media

CoSts.
Total
Total
Electricity Costs
Machine Hours
January
$2,370
210
February
2,920
390
March
3,580
470
April
4,530
690
May
3,210
470
June
4,980
790
July
4,150
625
August
3,850
530
September
5,160
665
October
4,240
605
November
3,240
390
December
6,570
810
(a)
Your answer is correct.
Determine the fixed- and variable-cost components using the high-low method.
Fixed-costs
900
Variable cost per machine hour
7
eTextbook and Media
Assistance Used
Attempts: 1 of 2 used
%24

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