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Hi, I'm struggling with this question. I only need 1, 2, and 4. Thank you! Myrick Wooderaft Company (MWC) manufactures antique wooden cabinets to house
Hi, I'm struggling with this question. I only need 1, 2, and 4. Thank you!
Myrick Wooderaft Company (MWC) manufactures "antique" wooden cabinets to house modern televisions. MWC began operations in January of last year. Sidney Myrick, the owner, asks for your assistance. He believes that he needs to better understand the cost of the cabinets for pricing purposes. You have collected the following data concerning actual production over the past year. Required b. Using the high-low method, compute the total cost equation for the preceding data. (1) Compute the variable cost per unit. (2) Compute total fixed costs. (3) Sketch a line between the high and low points on your graph. (4) Calculate the total cost assuming 2,000 cabinets are made. c. Comment on which method you believe is better Step by Step Solution
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