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Gold Dragon Restaurant would like to estimate the variable and fixed components of its utilities cost and has compiled the following data for the last
Gold Dragon Restaurant would like to estimate the variable and fixed components of its utilities cost and has compiled the following data for the last five months of operations: Month Meals Served Utitility Costs December 550 $401.00 January 300 $360.00 February 250 $347.50 March $385.50 April 600 $414.00 a. Using the High-Low Method, what is the estimated variable utilities cost per meal? what is the estimated monthly fixed component of these utilities? C. Using the cost relationship you developed, what it the TOTAL monthly utility cost assuming 417 meals are served
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