Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Greg uses the high-low method of estimating costs of ABC Inc. Greg had total costs of $50,000 at its lowest level of activity, when 4,400
Greg uses the high-low method of estimating costs of ABC Inc. Greg had total costs of $50,000 at its lowest level of activity, when 4,400 units were sold. At its highest level of activity, the sales were 10,000 units and the total costs were $78,154. What is the estimated variable cost per unit? Please round your final answer to 2 decimal places (i.e., round 2.324 to 2.32 and round 2.326 to 2.33)
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