You have collected the following information about activity andcosts -Activity -Machine Cost - UtilitiesMonthHours2,4002,600$18,500$19,750MarchAprilMay2,900$23,740$25,500$18,350$17,290$17,150$25,200$24,100June3,100JulyAugustSeptember 1,9503,1502,1001,900OctoberNovember 3,000Using the High-Low method, calculate the variable cost permachine hour to the nearest penny.

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Description: You have collected the following information about activity andcosts -Activity -Machine Cost - UtilitiesMonthHours2,4002,600$18,500$19,750MarchAprilMay2,900$23,740$25,500$18,350$17,290$17,150$25,200$24,100June3,100JulyAugustSeptember 1,9503,1502,100

The method of high low is used for evaluating the fixed as well as variable cost of the product and…

Answered: You have collected the following…

Business

Accounting

You have collected the following information about activ costs - Activity - Machine Cost - Utilities Month Hours March 2,400 $18,500

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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