Answered step by step
Verified Expert Solution
Question
1 Approved Answer
6. Information for costs incurred at Loranz, Inc. in the first quarter follows: Month Cost Activity Auto expense January$17,60032,000 miles driven February$16,22529,500 miles driven March$17,10531,100
6. Information for costs incurred at Loranz, Inc. in the first quarter follows:
MonthCostActivity
Auto expense January$17,60032,000 miles driven
February$16,22529,500 miles driven
March$17,10531,100 miles driven
Using the cost formula y= mx + b, estimate the cost formula for auto expense.
Group of answer choices
Y = .39X
Y = .55X
Y =.55X + 495
Y = 17,600
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started