Question
Blossom, Inc., has collected the following information on its cost of electricity: Machine Hours Total Electricity Costs January 510 $230 February 540 $290 March 370
Blossom, Inc., has collected the following information on its cost of electricity:
Machine Hours Total Electricity Costs
January 510 $230
February 540 $290
March 370 $200
April 450 $200
May 670 $300
June 720 $360
July 330 $170
August 540 $280
September 220 $112
October 720 $350
November 820 $340
December 600 $300
Using the high-low method, compute the variable cost of electricity per machine hour.
Variable cost $ per machine hour Compute the total fixed cost of electricity.
Fixed cost $ Represent the electricity cost function in equation form.
Total cost = $ MH + $ What is the expected electricity cost when 720 machine hours are used?
Total cost $
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