17. (TCO 9) At the high level of activity in November, 7,000 machine hours were run and power costs were $12,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounterd to $6,000. Using the high-low method, what is the estimated fixed cost element of power costs? (Points: 5) $12,000 $6,000 53,600 S8,400 18. (TCO 10) Which of the following statements regarding budget reports is incorreet? (Points : 5) The cost of budget reports should not outweigh the benefits. Budget reports are used for planning, control, and information. Reports prepared for upper management typically have fewer details than reports prepared for lower-level managers Reports are prepared more frequently for upper management than for lower-level managers. 17. (TCO 9) At the high level of activity in November, 7,000 machine hours were run and power costs were $12,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted to S6,000. Using the high-low method, what is the estimated fixed cost element of power costs? (Points: 5) $12,000 S6,000 $3,600 $8,400 18. (TCO 10) Which of the following statements regarding budget reports is incorrer? (Points: 5) The cost of budget reports should not outweigh the benefits. Budget reports are used for planning, control, and information Reports prepared for upper management typically have fewer details than reports prepared for lower-level managers Reports are prepared more frequently for upper management than for lower-level managers