FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following 6 months of data were collected on electricity cost and the number of machine hours in a factory.
|
Electricity |
Machine |
Month |
cost |
hours |
June |
$25,160 |
4,500 |
July |
26,170 |
4,810 |
August |
27,250 |
5,120 |
September |
26,680 |
5,010 |
October |
27,950 |
5,430 |
November |
27,500 |
5,190 |
An independent variable value used in calculating the cost line using the high-low method is:
a. |
$27,950
|
|
b. |
5,430
|
|
c. |
$25,160
|
|
d. |
4,000
|
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