Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Olsen Corporation manufactures skis. Data for the past four months related to the cost of maintenance on its machinery is given below: Month Machine Hours
Olsen Corporation manufactures skis. Data for the past four months related to the cost of maintenance on its machinery is given below: Month Machine Hours Maintenance Cost April 21,000 $26,020 May 18,500 $24,600 June 15,000 $22,300 July 19,000 $25,100 25. Using the high-low method of analysis, what is the fixed cost of maintenance on the machinery?
a. $14,500.
b. $5,020.
c. $13,000.
d. $12,320.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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