FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QS 21-3 Cost behavior estimation-high-low method LO P1 The following information is available for a companys maintenance cost over the last seven months. Month Maintenance

QS 21-3 Cost behavior estimation-high-low method LO P1 The following information is available for a companys maintenance cost over the last seven months. Month Maintenance Hours Maintenance Cost June 11 $ 4,780 July 17 6,400 August 13 5,320 September 16 6,130 October 22 7,750 November 25 8,560 December 7 3,700 Using the high-low method, estimate both the fixed and variable components of its maintenance cost.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Auditing Cases An Interactive Learning Approach

Auditing Cases An Interactive Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

6th edition

133852105, 978-0133852103

More Books

Students also viewed these Accounting questions

Question

★★★★★
Discuss two approaches to viewing the sources of authority.

Answered: 1 week ago

Question

★★★★★
Explain the factors that influence self-categorization. In what ways is self-categorization similar to and different from the social categorization of others discussed in Chapter 4?

Answered: 1 week ago

Question

★★★★★
What other cultural infl uences besides the Internet might be encouraging young people to become obsessively focused on themselves?

Answered: 1 week ago

Question

★★★★★
When Cornelia Tyson prepared a process value analysis for her company, she identified the following primary activities. Identify the value-adding activities (VA) and the non-value-adding activities...

Answered: 1 week ago

Question

★★★★★
A compary has the following capita: Bond lstue a 1: Face value of $90,000,000 and a current price per bond of $9.20 Elond lswe 82. Face value of $60,000,000 and a current price per bond of 103.50...

Answered: 1 week ago

Question

★★★★★
Question 35 1 pts The hypotheses for a test for a population proportion are Ho: p - 0.70 versus Ha: p + 0.70. If the z test statistic equals +2.82, what is the p value based on the standard normal...

Answered: 1 week ago

Question

★★★★★
SECTION 2 READING STUDY GUIDE Economic Choice Today: Opportunity Cost Before You Learned The economic problem of scarcity guides economists to ask and answer basic questions about the economy. Now...

Answered: 1 week ago

Question

★★★★★
Which of the following statements is not true regarding incremental and iterative development approaches? A) Both incremental and iterative approaches are used in adaptive projects. B) Both...

Answered: 1 week ago

Question

★★★★★
A merchant obtains the retail price of an item by adding 20% to the wholesale price. Later, he has a sale and marks every item down 20% from the retail price. Is the sale price the same as the...

Answered: 1 week ago

Question

★★★★★
One gallon equals 4 quarts. The following program intends to read a floating-point value from input, convert the value from quarts to gallons, and output the volume in gallons, but the code contains...

Answered: 1 week ago

Question

★★★★★
Cash $ 120,000 Accounts receivable 48,000 Maintenance expense 22,000 Advertising expense 17,360 Fees earned 128,800 Lisa Assaad, Capital, April 1 ? Salaries expense 61,000 Machinery 93,000 Accounts...

Answered: 1 week ago

Question

★★★★★
8. What is meant by good-faith bargaining? Using examples, explain when bargaining is not in good faith.

Answered: 1 week ago

Question

★★★★★
3. Describe the process of a union drive and election.

Answered: 1 week ago

Question

★★★★★
2. What appeals processes are open to this person?

Answered: 1 week ago

Previous Question Next Question