Data table Month Total Cost January......$ 3,420 February.....$ 3,700 $ 3,500 $ 3,780 $ 4,000 $ 4,200 March April May June Machine Hours 1,010 1,120 1,000 1,280 1,340 1,400 - X Requirements Using the high-low method, answer the following questions: 1. What is the variable utilities cost per machine hour? 2. What is the fixed cost of utilities each month? 3. If Meyer Company uses 1,240 machine hours in a month, what will its total costs be?

Data table Month Total Cost January......$ 3,420 February.....$ 3,700 $ 3,500 $ 3,780 $ 4,000 $ 4,200 March April May June Machine Hours 1,010 1,120 1,000 1,280 1,340 1,400 - X Requirements Using the high-low method, answer the following questions: 1. What is the variable utilities cost per machine hour? 2. What is the fixed cost of utilities each month? 3. If Meyer Company uses 1,240 machine hours in a month, what will its total costs be?

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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