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Test: Midterm Exam Question 5 This Test: 14 pts possible Submit Test Coughlin Company, which uses the high-low method to analyze cost behaviour, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage data for the first six months of the year follow. (Click the icon to view the data.) Requirements Using the high-low method, answer the following questions: 1. What is the variable utilities cost per machine hour? 2. What is the fixed cost of utilities each month? 3. If Coughlin Company uses 1,220 machine hours in a month, what will its total costs be? X Data Table Requirement 1. What is the variable utilities cost per machine hour? Determine the formula that is used to calculate the variable cost (slope). Choose the correct answer below. Month Total Cost Machine Hours O A. Change in volume + Change in cost = Variable cost (slope) January . ..... $ 2,936 960 O B. Highest cost + Highest volume = Variable cost (slope) February .. .. . $ 3,740 1, 160 O C. Total operating cost - Total variable cost = Variable cost (slope) March . . . . . . . 3 3,540 1,070 O D. Lowest cost - Lowest volume = Variable cost (slope) April . . S 3,760 1,210 O E. Change in cost - Change in volume = Variable cost (slope) May . . . . . .... S 4,400 1,390 June . . .. .. . . S 4,756 1,660 Using the high-low method, the variable utilities cost per machine hour is $ . (Round the variable cost to the nearest cent.) Requirement 2. What is the fixed cost of utilities each month? Determine the formula that is used to calculate the fixed cost component. Choose the correct answer below. Print Done O A. Change in cost + Change in volume = Fixed cost O B. Total operating cost - Total variable cost = Fixed cost O C. Change in volume + Change in cost = Variable cost (slope) O D. Highest volume - lowest volume = Fixed cost O E. Highest cost - lowest cost = Fixed cost Time Remaining: 01:49:59 NextCoughlin Company, which uses the high-low method to analyze cost behaviour, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage data for the first six months of the year toll (Click the icon to view the data.) Requirements Using the high-low method, answer the following questions: 1. What is the variable utilities cost per machine hour? 2. What is the fixed cost of utilities each month? 3. If Coughlin Company uses 1,220 machine hours in a month, what will its total costs be? X Data Table O B. Highest cost - Highest volume = Variable cost (slope) O C. Total operating cost - Total variable cost = Variable cost (slope) Month Total Cost Machine Hours O D. Lowest cost + Lowest volume = Variable cost (slope) January . . .... 2,936 960 O E. Change in cost - Change in volume = Variable cost (slope) February . .. . . $ 3,740 1,160 Using the high-low method, the variable utilities cost per machine hour is $ . (Round the variable cost to the nearest cent.) March . S 3,540 1,070 April . . . . . . .. S 3,760 1.210 Requirement 2. What is the fixed cost of utilities each month? May . . . . . . . . . 3 4.400 1,390 Determine the formula that is used to calculate the fixed cost component. Choose the correct answer below. June . . . . . . . . 3 4,756 1,660 O A. Change in cost - Change in volume = Fixed cost O B. Total operating cost - Total variable cost = Fixed cost O C. Change in volume + Change in cost = Variable cost (slope) O D. Highest volume - lowest volume = Fixed cost Print Done O E. Highest cost - lowest cost = Fixed cost Using the high-low method, the fixed cost of utilities each month is $ (Round the total variable costs to the nearest whole dollar.) Requirement 3. If Coughlin Company uses 1,220 machine hours in a month, what will its total costs be? The total costs when 1,220 machine hours are incurred is $ (Round your interim and final calculations to the nearest whole dollar.) Time Remaining: 01:49:43 Next O