The phone bill Laurel Accounting consists of both fixed and variable costs. Refer to the four-month data below and apply the high-low method to answer the question. (Round your calculation to two decimal places.) Minutes Total bill May 480 $3,000 June 240 $2,675 July 160 $2,640 August 320 $2,880 What is the variable cost per minute?

The phone bill Laurel Accounting consists of both fixed and variable costs. Refer to the four-month data below and apply the high-low method to answer the question. (Round your calculation to two decimal places.) Minutes Total bill May 480 $3,000 June 240 $2,675 July 160 $2,640 August 320 $2,880 What is the variable cost per minute?

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 3DQ: Suppose a company finds that shipping cost is 3,560 each month plus 6.70 per package shipped. What...

See similar textbooks

Similar questions

Mendota Foods sells a variety of food products around the world. The company engages directly with individuals with an interest in cooking by offering ideas and recipes in various staff blogs and podcasts. The management team at Mendota believes this drives brand loyalty and allows Mendota to charge a premium for its products. One initiative that Mendota has been running for the last three years is a call center with staff who can provide help and answer questions about cooking in general and Mendota products in particular. The chief financial officer is interested in learning more about the costs of this initiative and how they vary with the demands placed on the center. To help answer the question, the financial staff have collected call center volume (number of calls) and call center cost for the last 12 months. The data follow: Month Number of calls 1 2 3 4 5 6 7 8 9 10 11 12 Required: 60,750 67,150 60,250 62,000 45,250 74,150 52,100 65,600 77,500 45,250 66,700 69,900 Call center…
How do I compute the breakeven point in tickets and in sale dollars? Thrills sells tickets at $50 per person as a one day entrance fee. Variable costs are $28 per person, and fixed costs are $166,500 per month
I need this question answer general Accounting
Solve this Financial accounting question
3. Fill in all of the blanks
You place an order terms of 2/25, net 45. 000 units of Good X at a unit price of $47. The supplier offers a-1. How long do you have to pay before the account is overdue? a-2. If you take the full period, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b-1. What is the discount being offered? (Enter your answer as a percent.) b-2. How quickly must you pay to get the discount? b-3. If you do take the discount, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c-1. If you don't take the discount, how much interest are you paying implicitly? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c-2. How many days' credit are you receiving? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
You place an order for 1,000 units of Good X at a unit price of $47. The supplier offers terms of 2/25, net 45. a-1. How long do you have to pay before the account is overdue? a-2. If you take the full period, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b-1. What is the discount being offered? (Enter your answer as a percent.) b-2. How quickly must you pay to get the discount? b-3. If you do take the discount, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c-1. If you don't take the discount, how much interest are you paying implicitly? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c-2. How many days' credit are you receiving? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Cost Accounting: Mehta Telecom offers a data plan with a base cost of $40, which includes 5GB of data. Additional data usage is charged as follows: the first 3GB beyond the base is priced at $6 per GB, the next 5GB is priced at $5 per GB, and any usage beyond that is charged at $4 per GB. Calculate the total cost for using 15GB of data in a billing cycle. a) $87 b) $89 c) $93 d) $91
The phone bill for a corporation consists of both fixed and variable costs. Refer to the four-month data below and apply the high-low method to answer the question. Minutes Total Bill January 480 $4500 February 240 $2690 March 160 $2630 April 300 $2845 If the company uses 360 minutes in May, how much will the total bill be? (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) $1697 $2102 $3799 $7305
Need answer
Need help this question
The Sunland Law Office has the following monthly telephone records and costs: Calls Costs 7,700 $4,395 5,400 3,900 7,900 4,690 13,900 8,490 8,000 4,695 7,400 4,195 Identify the fixed and variable cost components using the high-low method. (Round variable cost to 2 decimal places, e.g. 52.75.) Variable cost Fixed cost $ tA High ta SA Low