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. Cost Machine Hours September £4,100 22,000 October £3,700 18,000 November £3,900 19,000 December £4,500 28,000 a) £0.08 b) £4.86 c) £0.25 d) £12.50

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. Cost Machine Hours September £4,100 22,000 October £3,700 18,000 November £3,900 19,000 December £4,500 28,000 a) £0.08 b) £4.86 c) £0.25 d) £12.50

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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