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...

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