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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
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$3.12.
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$4.12.
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$5.50.
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$1.97.
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$6.21.
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