What is the VC for this please? I came up with 1.44 but getting a message this is incorrect. After graduating from dental school two years ago, Dr. Lauren Farish purchased the dental practice of a long-time dentist who was retiring. In January of this year, she had to replace the outdated autoclave equipment she inherited from the previous dentist. Now, as she is preparing her budget for next year, she is concerned about understanding how her cost for sterilizing her dental instruments has changed. She has gathered the following information from her records: Month Number of instruments used Total autoclave cost January 850 $7,600 February 750 6,800 March 920 8,200 April 950 8,600 May 1,150 9,900 June 900 8,100 July 1,050 9,600 August 975 8,700 (a) Partially correct answer icon Your answer is partially correct. Identify the high and low points. Activity Level $ High point 1150 9900 Low point 750 6800 Using the high-low method, what is the variable cost of sterilizing an instrument using the new equipment? (Round answer to 2 decimal places, e.g. 52.75.) Variable cost per instrument

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What is the VC for this please? I came up with 1.44 but getting a message this is incorrect.

After graduating from dental school two years ago, Dr. Lauren Farish purchased the dental practice of a long-time dentist who was retiring. In January of this year, she had to replace the outdated autoclave equipment she inherited from the previous dentist. Now, as she is preparing her budget for next year, she is concerned about understanding how her cost for sterilizing her dental instruments has changed. She has gathered the following information from her records:

Month	Number of instruments used	Total autoclave cost
January	850		$7,600
February	750		6,800
March	920		8,200
April	950		8,600
May	1,150		9,900
June	900		8,100
July	1,050		9,600
August	975		8,700

(a)

Partially correct answer icon

Your answer is partially correct.

Identify the high and low points.

	Activity Level	$
High point	1150	9900
Low point	750	6800

Using the high-low method, what is the variable cost of sterilizing an instrument using the new equipment? (Round answer to 2 decimal places, e.g. 52.75.)

Variable cost

per instrument

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