Question
A company has determined that after reviewing their costs using the high-low method that the total costs of production was $120754 when the variable
A company has determined that after reviewing their costs using the high-low method that the total costs of production was $120754 when the variable cost per unit is $12 and the quantity produced was 7247. Calculate the Fixed Cost. (You are advised that the cost behaviour pattern is linear i.e. could be represented using the formula Y=a+bx.) Note: Round your answer to the nearest dollar.
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
15th edition
1337671002, 978-1337395250
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