FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to determine Smithson's fixed costs per month. Round your final answer to the nearest dollar. Do not round interim calculations.
Cost | Machine Hours | |
January | $26,500 | 9,600 |
February | 38,700 | 17,800 |
March | 28,600 | 11,600 |
April | 30,200 | 14,600 |
a.$9,774
b.$20,769
c.$39,094
d.$12,217
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