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Chastain Company accumulated the following data concerning a mixed cost using miles as the activity level. Month Miles Total cost January 40,000 $114,200 February 50,000 $134,000 March 70,000 $181,100 April 60,000 $161,000 Using the high-low method, what does the unit variable cost? A. $1.91 per mile B. $2.04 per mile C. $2.23 per mile D. $1.61 per mile

Chastain Company accumulated the following data concerning a mixed cost using miles as the activity level. Month Miles Total cost January 40,000 $114,200 February 50,000 $134,000 March 70,000 $181,100 April 60,000 $161,000 Using the high-low method, what does the unit variable cost? A. $1.91 per mile B. $2.04 per mile C. $2.23 per mile D. $1.61 per mile

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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Chastain Company accumulated the following data concerning a mixed cost using miles as the activity level. Month Miles Total cost January 40,000 $114,200 February 50,000 $134,000 March 70,000 $181,100 April 60,000 $161,000 Using the high-low method, what does the unit variable cost? A. $1.91 per mile B. $2.04 per mile C. $2.23 per mile D. $1.61 per mile
Transcribed Image Text:Chastain Company accumulated the following data concerning a mixed cost using miles as the activity level. Month Miles Total cost January 40,000 $114,200 February 50,000 $134,000 March 70,000 $181,100 April 60,000 $161,000 Using the high-low method, what does the unit variable cost? A. $1.91 per mile B. $2.04 per mile C. $2.23 per mile D. $1.61 per mile
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