Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ABC Company uses the high-low method to analyze cost behavior and has determined that machine hours best predict the company's total utilities cost. Determine the

ABC Company uses the high-low method to analyze cost behavior and has determined that machine hours best predict the company's total utilities cost. Determine the cost function (formula) for total utilities cost. What will the estimated utility cost be if ABC Company uses 1371 in a month?

Total Cost Machine Hours
January $3,410 1060
February $3,790 1180
March $3,574 1030
April $3,730 1260
May $4,500 1310
June $4,294 1430

(Round your final answer to two decimal places)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Study Guide/Workbook To Accompany Intro To Managerial Accounting

Authors: Peter Brewer, Ray Garrison, Eric Noreen

5th Edition

0077243641, 978-0077243647

More Books

Students also viewed these Accounting questions