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 $3,052 15,112 April 2,653 9,652 May 2,898 11,744 June 3,553 18,368 a.$0.52 b.$1.24 c.$0.48 d.$0.10

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 $3,052 15,112 April 2,653 9,652 May 2,898 11,744 June 3,553 18,368 a.$0.52 b.$1.24 c.$0.48 d.$0.10

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 9DQ: Describe the cost formula for a strictly variable cost such as electrical power cost of 1.15 per...

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Question 26
Describe the cost formula for a strictly variable cost such as electrical power cost of 1.15 per machine hour (i.e., every hour the machinery is run, electrical power cost goes up by 1.15).
CLASS ACTIVITY:CASE PROBLEM The Overland Company wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month Electricity Cost Direct Labor January April July October P6,750 7,500 8,500 7,250 Hours 1,500 1,700 2,000 1,600 Required: Determine the following using the high-low method. a. Variable cost per hour b. Fixed Cost Cost equation/function d. How much is the total cost with 2,200 labor hours? C.