Grant Computer Services, Inc., has been in business for six months. The following are basic operating data
Question:
Grant Computer Services, Inc., has been in business for six months. The following are basic operating data for that period
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Required
a. What is the average service revenue per hour in each month and the overall average for the six-month period?
b. Use the high-low method to estimate the total monthly fixed cost and the variable cost per hour.
c. Determine the average contribution margin per hour.
d. Use the scattergraph method to estimate the total monthly fixed cost and the variable cost per hour.
e. Compare the results of the two methods and comment on thedifference.
Contribution margin is an important element of cost volume profit analysis that managers carry out to assess the maximum number of units that are required to be at the breakeven point. Contribution margin is the profit before fixed cost and taxes...
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a Month Jul Aug Sep Oct Nov Dec Total Revenue 6000 6800 13000 21000 16000 16500 79300 Service hours ...View the full answer
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Related Book For 
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
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