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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: Week 1 Week 2 Week 3 Week 4 Week 3 Week 6 Week 7 Meals served 1.500 1,600 1,800 1.450 1,200 1.650 2,000 Cafeteria costs $4,800 $5,080 $5,280 $4,900 $4,000 $5,100 $5,600 Assume that the relevant range includes all of the activity levels mentioned in this problem. Using the high-low method of analysis, the variable cost per meal served in the cafeteria would be estimated to be: 2.00 1.00 2.80 1.50
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