Question
Banner Food Processing prepares ready-to-eat meals. At Banner, the cost of prepared meals has a fixed component and a variable component related to the number
Banner Food Processing prepares ready-to-eat meals. At Banner, the cost of prepared meals has a fixed component and a variable component related to the number of meals prepared. The cost and number of meals prepared at the kitchen for the past seven months are provided below.
Month | Number of Prepared Meals | Cost of Meals |
June | 499 | $2,169 |
July | 590 | $2,532 |
August | 225 | $1,076 |
September | 694 | $2,947 |
October | 375 | $1,674 |
November | 704 | $2,987 |
December | 1,026 | $4,272 |
Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. Using the high-low method, What would be the expected cost of meals prepared for a month in which 672 meals are prepared? Variable Cost per Unit: $Answer Fixed Cost: $Answer Total Cost Incurred: $Answer
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