Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Gargymal company would like to estimate the variable and fixed components of its electrical costs and has compiled the following data for the past 5
Gargymal company would like to estimate the variable and fixed components of its electrical costs and has compiled the following data for the past 5 months of options Machine hours Electrical cost August 1000 $1,620 September 900 $1,510 October 1,500 $1,870 November 2,000 $1,950 December 1,300 $1,730 Using the high-low method of analysis, the estimated fixed cost per month for electricity is closest to which of the following? A.$1,306.50 B.$870.00 C.$1,150.00 D.$1,290.00 ***PLEASE SHOW ME HOW to get the 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