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The following information is available for a company's utility cost for operating its machines over the last four months. Month Machine hours Utility cost January
The following information is available for a company's utility cost for operating its machines over the last four months.
Month | Machine hours | Utility cost | ||
January | 900 | $ | 5,450 | |
February | 1,800 | $ | 6,900 | |
March | 2,400 | $ | 8,100 | |
April | 600 | $ | 3,600 |
Using the high-low method, the estimated variable cost per machine hour for utilities is:
$3.38
$6.00
$6.17
$4.22
$2.50
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