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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 1,000 $ 6,000
February 1,900 $ 7,100
March 2,600 $ 8,100
April 700 $ 4,350

Using the high-low method, the estimated variable cost per machine hour for utilities is:

Multiple Choice

  • $3.12.

  • $4.12.

  • $5.50.

  • $1.97.

  • $6.21.

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