Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The phone bill for a company consists of both fixed and variable costs. Refer to the fourmonth data below and apply the highlow method to
The phone bill for a company consists of both fixed and variable costs. Refer to the
fourmonth
data below and apply the
highlow
method to answer the question.
Minutes | Total Bill | |
January | 460 | $4,500 |
February | 210 | $2,690 |
March | 180 | $2,640 |
April | 320 | $2,860 |
What is the fixed portion of the total cost? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
Question content area bottom
Part 1
A.$ 1 comma 860
$1,860
B.$ 3 comma 054
$3,054
C.$ 1 comma 446
$1,446
D.$ 2 comma 640
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started