Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Oriole Corporation accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost January 10,500 $21,650 February 8,500
Oriole Corporation accumulates the following data concerning a mixed cost, using miles as the activity level.
Miles Driven | Total Cost | |||||||
---|---|---|---|---|---|---|---|---|
January | 10,500 | $21,650 | ||||||
February | 8,500 | $19,500 | ||||||
March | 9,500 | $17,500 | ||||||
April | 7,500 | $17,000 |
Compute the variable and fixed cost components using the high-low method. (Round variable cost answer to 2 decimal places, e.g. 52.75.)
Variable Cost | $enter a dollar amount per mile rounded to 2 decimal places | per mile | ||
---|---|---|---|---|
Fixed Cost | $enter a dollar amount |
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