Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Oriole Co. accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost January 11,000 $21,650 February 9,000
Oriole Co. accumulates the following data concerning a mixed cost, using miles as the activity level.
Miles Driven Total Cost
January 11,000 $21,650
February 9,000 17,300
March 10,000 19,300
April 8,000 17,000
Compute the variable and fixed cost components using the high-low method. (Round variable cost to 2 decimal places, e.g. 15.25.)
Variable cost $ ___________-per mile
Fixed cost______________
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