Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, could someone please give me explanation and guide me steps to do these questions? Thank you very much! 7) Using the high-low method to

Hi, could someone please give me explanation and guide me steps to do these questions? Thank you very much!

7) Using the high-low method to split mixed costs, the variable rate is found to be $3 per hour and the high point is 200 hours at a total cost of $1,800. What is the fixed cost at 350 hours?

a) $600

b) $750

c) $1,050

d) $1,200

8) Using the information from Question 7. What is the total variable cost at 350 hours?

a) $600

b) $750

c) $1,050

d) $1,200

9) Using the information from Question 7. What is the estimated total cost at 350 hours?

a) $2,850

b) $3,000

c) $1,800

d) $2,250

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting Information for Decision-Making and Strategy Execution

Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young

6th Edition

137024975, 978-0137024971

Students also viewed these Accounting questions