Hy teacher give me answer please In August, Summit Retreat Company incurred $68,500 of food service costs andserved 14,000 meals. In November, when 9,000 meals were served, the food servicecost was $53,800. Based on this limited data, estimate the variable cost per mealand the total fixed cost using the high-low method.

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

Answered: In August, Summit Retreat Company…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 8EA: Using the information in the previous exercises about Marleys Manufacturing, determine the operating...

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In August, Summit Retreat Company incurred $68,500 of food service costs and served 14,000 meals. In November, when 9,000 meals were served, the food service cost was $53,800. Based on this limited data, estimate the variable cost per meal and the total fixed cost using the high-low method.