Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The cafeteria at X Company served the following numbers of meals and incurred the following costs in each of the last five months Month January

image text in transcribed

The cafeteria at X Company served the following numbers of meals and incurred the following costs in each of the last five months Month January Februany March April May Meals 6,600 8,800 10,900 10,500 11,000 Cost $28,100 33,700 35,900 42,100 36,600 With this information, the company's accountant used the high-low method to develop a monthly cost function to estimate cafeteria costs in July, when 10,000 meals are expected to be served 6. What is the accountant's estimate of fixed cafeteria costs in July [round variable costs per unit to three decimal places]? Submit Answer Tries 0/3 7. What is the accountant's estimate of total variable cafeteria costs in July [round variable costs per unit to three decimal places]? Submit Answer Tries 0/3

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

More Books

Students also viewed these Accounting questions

Question

Explain how to calculate the materials quantity variance.

Answered: 1 week ago