(a) Identify the high and low points. High point Low point Machine Hours tA $ tA $ $ GA Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.)
(a) Identify the high and low points. High point Low point Machine Hours tA $ tA $ $ GA Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Tr.407.
![January
February
March
April
May
June
July
August
September
October
November
December
(a)
High point
Low point
500
540
Variable cost $
350
430
650
700
320
510
230
750
Identify the high and low points.
850
600
Machine Hours
$230
$320
$190
$220
$300
$330
$180
$260
$132
$360
$380
$340
LA
+A
Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g.
52.75.)
per machine hour](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F876b30a4-9d92-4fe3-8414-9839fcf714ca%2Fa3efabe1-c1b6-4013-886d-07331de3493b%2Figg9dn_processed.png&w=3840&q=75)
Transcribed Image Text:January
February
March
April
May
June
July
August
September
October
November
December
(a)
High point
Low point
500
540
Variable cost $
350
430
650
700
320
510
230
750
Identify the high and low points.
850
600
Machine Hours
$230
$320
$190
$220
$300
$330
$180
$260
$132
$360
$380
$340
LA
+A
Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g.
52.75.)
per machine hour
![Compute the total fixed cost of electricity. (Round answer to 2 decimal places, e.g. 52.75.)
Fixed cost
(c)
Save for Later Last saved 7 minutes ago.
Saved work will be auto-submitted on the due date. Auto-
submission can take up to 10 minutes.
$
eTextbook and Media
Represent the electricity cost function in equation form. (Round answers to 2 decimal places, e.g. 52.75.)
Total cost = $
(d)
eTextbook and Media
Save for Later Last saved 8 minutes ago.
Saved work will be auto-submitted on the due date. Auto-
submission can take up to 10 minutes.
Total cost
x MH+ $
$
Attempts: 0 of 3 used Submit Answer
What is the expected electricity cost when 750 machine hours are used? (Round answer to 2 decimal places, e.g. 52.75.)
eTextbook and Media
Attempts: 0 of 3 used Submit Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F876b30a4-9d92-4fe3-8414-9839fcf714ca%2Fa3efabe1-c1b6-4013-886d-07331de3493b%2Fdgd4uds_processed.png&w=3840&q=75)
Transcribed Image Text:Compute the total fixed cost of electricity. (Round answer to 2 decimal places, e.g. 52.75.)
Fixed cost
(c)
Save for Later Last saved 7 minutes ago.
Saved work will be auto-submitted on the due date. Auto-
submission can take up to 10 minutes.
$
eTextbook and Media
Represent the electricity cost function in equation form. (Round answers to 2 decimal places, e.g. 52.75.)
Total cost = $
(d)
eTextbook and Media
Save for Later Last saved 8 minutes ago.
Saved work will be auto-submitted on the due date. Auto-
submission can take up to 10 minutes.
Total cost
x MH+ $
$
Attempts: 0 of 3 used Submit Answer
What is the expected electricity cost when 750 machine hours are used? (Round answer to 2 decimal places, e.g. 52.75.)
eTextbook and Media
Attempts: 0 of 3 used Submit Answer
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education