The following information is available for a company's utility cost for operating its machines over the last four months. Month Machine hours Utility cost January 1,040 $6,590 $7,180 $8,100 February 1,940 March 2,680 April 740 $4,650 Using the high-low method, the estimated variable cost per machine hour for utilities is: Multiple Choice $6.28. $3.02. $1.78. $6.47. $4.14.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information is available for a company's utility cost for operating its machines over the last four months.
Month
Machine hours
Utility cost
January
1,040
$6,590
February
1,940
$7,180
March
2,680
$8,100
April
740
$4,650
Using the high-low method, the estimated variable cost per machine hour for utilities is:
Multiple Choice
O $6.28.
$3.02.
$1.78.
$6.47.
$4.14.
Transcribed Image Text:e & Exit The following information is available for a company's utility cost for operating its machines over the last four months. Month Machine hours Utility cost January 1,040 $6,590 February 1,940 $7,180 March 2,680 $8,100 April 740 $4,650 Using the high-low method, the estimated variable cost per machine hour for utilities is: Multiple Choice O $6.28. $3.02. $1.78. $6.47. $4.14.
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