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Frank Company operates a cafeteria for its employees. The number of meals served each week over the last seven weeks, along with the total costs
Frank Company operates a cafeteria for its employees. The number of meals served each week over the last seven weeks, along with the total costs of operating the cafeteria are given below: Meals served Cafeteria costs Week 1 1,500 $4,800 Week 2 1,600 $5,080 Week 3 1,800 $5,280 Week 4 1,450 $4,900 Week 5 1,200 $4,000 Week 6 1,650 $5,100 Week 7 1,900 $5,400 Assume that the relevant range includes all of the activity levels mentioned in this problem. Assume that the cafeteria expects to serve 1,850 meals during Week 8. Using the high-low method, the expected total cost of the cafeteria would be: $5,340 $5,180 $5,300 $4,375
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