help this cost function answer is accounting Calculate the variable rate using the High Low method of measuringcost function.JanuaryCost of electricity55,000 machine hours$80,450Low capacity September 30,000 machine hoursCost of electricity$64,200

Step 1: Definition of High-Low MethodThe High-Low Method is a cost estimation technique used to…

Answered: Calculate the variable rate using the…

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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Given the following cost and activity observations for Leno Enterprises' utilities, use the high-low method to calculate Leno's variable utilities cost per machine hour. September October November December a) £0.08 b) £4.86 c) £0.25 d) £12.50 Cost Machine Hours £4,100 22,000£3,700 18,000£3,900 19,000 £4,500 28,000
18. The following information is available for electricity costs for the last six months of the year: Month Volume Costs July 2,800 4.400 August 5,600 10,800 September 6,400 11,400 October 3.500 7,800 November 2,400 4,800 December 4,200 8,100 Using high-low method, What is the prediction equation? OY= 100 +3.02 X OY = 200 + 2.83 X OY= 420 + 1.65 X none of thc above
Using the high-low method, how much is the electricity costs if the actual machine hours used is 4,200?
Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's variable utilities cost per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,100 15,000 April 2,700 10,000 May 2,900 12,000 June 3,600 18,000 a.$10.00 b.$0.63 c.$0.11 d.$0.67
Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to calculate Bounty' variable utilities costs per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,070 15,158 April 2,688 10,482 May 2,870 12,037 June 3,847 17,906 Oa. $1.09 Ob. $1.56 Oc. $0.16 Od. $1.05
Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's variable utilities cost per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,142 15,489 April 2,691 10,041 May 2,810 11,509 4 June 3,881 18,009 a. $0.15 b. $1.05 O c. $1.64 Od. $1.01 10:21 PM 670002 K 63°F
Given the following cost and activity observations for Bounty Company’s utilities, use the high-low method to determine Bounty’s variable utilities cost per machine hour. Round to the nearest cent. Cost Machine Hours March $3,139 14,709 April 2,650 9,989 May 2,817 12,342 June 3,656 17,720 a. $0.74 b. $0.13 c. $1.43 d. $0.78
Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to calculate Bounty' variable utilities costs per machine hour. Round your answer to the nearest cent. March April May June Cost $3,100 2,700 2,900 3,600 Machine Hours 15.000 10,000 12,000 18,000
Machine maintenance 150,000 EGP, if you know rate of maintenance = EGP 0.15 (Number of labors hours). calculate the variable and fixed cost
Portman Company's activity for the first three months of 2022 are as follows: Machine Hours Electrical Cost January 2100 $4800 February 2600 $5800 $ March 2900 $6400 Using the high-low method, what is the variable cost per machine hour? $2.00 $3.05 Q$2.26 O $1.78
Calculate the variable cost

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Calculate the variable rate using the High Low method of measuring cost function. January Cost of electricity 55,000 machine hours $80,450 Low capacity September 30,000 machine hours Cost of electricity $64,200