What is the cost fur A) y = $48,000+ $4 $24,000+ $4 B) y = C) y = $34,700+ $4 D) y = $4,000+ $4.0 21) Using the high-le

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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20)Bob has assembled the following cost data that cannot be easily identified as either fixed or variable.
Cost
Hours
$24,000
$26,100
$34,700
$48,000
$38,300
5,000
6,300
7,900
11,000
9,250
What is the cost function?
A) y = $48,000 + $4.80X
B) y = $24,000+ $4.36X
C) y = $34,700 + $4.80X
D) y = $4,000+ $4.00X
21) Using the high-low method, what is the estimated total cost at an operating level of 9,000 hours?
784-5
Transcribed Image Text:20)Bob has assembled the following cost data that cannot be easily identified as either fixed or variable. Cost Hours $24,000 $26,100 $34,700 $48,000 $38,300 5,000 6,300 7,900 11,000 9,250 What is the cost function? A) y = $48,000 + $4.80X B) y = $24,000+ $4.36X C) y = $34,700 + $4.80X D) y = $4,000+ $4.00X 21) Using the high-low method, what is the estimated total cost at an operating level of 9,000 hours? 784-5
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