Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Data concerning Veronica Company's activity for the first six months of the year appear below: Month Machine Hours Electrical Costs June 5,710 $2,389 July 6,990
Data concerning Veronica Company's activity for the first six months of the year appear below: Month Machine Hours Electrical Costs June 5,710 $2,389 July 6,990 $2,794 August 5,290 $2,256 September 4,810 $2,104 October 3,490 $1,686 November 5,500 $2,322 Do not enter dollar signs or commas in the input boxes. a) Using the high-low method, calculate the variable components of the electrical costs. Round your answer to 5 decimal places. Variable Cost per Unit: $Answer 0.31657 b) Using the high-low method, calculate the fixed component of the electrical costs. Round your answer to the nearest whole number. Fixed Cost: $Answer 582.51 c) Calculate the total costs be if 5,970 hours were used. Round your answer to 2 decimal places. Estimated Total costs
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