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The following information is available for Mazoon company's electricity cost for operating its heavy machinery over the last quarter of the year 2020. Month Machine hours Electricity cost September 1,800 $ 10,900 October 8,800 $ 18,200 November 1,100 $ 8,200 December 6,600 $17,200 Using the high-low method, the estimated variable cost per machine hour for total cost of electricity is approximately: O a. $1.3 O b. $0.76 O c. None of the given answers O d. $2.07 O e. $1.64

The following information is available for Mazoon company's electricity cost for operating its heavy machinery over the last quarter of the year 2020. Month Machine hours Electricity cost September 1,800 $ 10,900 October 8,800 $ 18,200 November 1,100 $ 8,200 December 6,600 $17,200 Using the high-low method, the estimated variable cost per machine hour for total cost of electricity is approximately: O a. $1.3 O b. $0.76 O c. None of the given answers O d. $2.07 O e. $1.64

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following information is available for Mazoon company's electricity cost for operating its heavy machinery over the last quarter of the year 2020. Month Machine hours Electricity cost September 1,800 $ 10,900 October 8,800 $ 18,200 November 1,100 $ 8,200 December 6,600 $ 17,200 Using the high-low method, the estimated variable cost per machine hour for total cost of electricity is approximately: a. $1.3 O b. $0.76 c. None of the given answers O d. $2.07 e. $1.64
Transcribed Image Text:The following information is available for Mazoon company's electricity cost for operating its heavy machinery over the last quarter of the year 2020. Month Machine hours Electricity cost September 1,800 $ 10,900 October 8,800 $ 18,200 November 1,100 $ 8,200 December 6,600 $ 17,200 Using the high-low method, the estimated variable cost per machine hour for total cost of electricity is approximately: a. $1.3 O b. $0.76 c. None of the given answers O d. $2.07 e. $1.64
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