Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The phone bill for a company consists of both fixed and variable costs. Refer to the fourminus month data below and apply the highminus low

The phone bill for a company consists of both fixed and variable costs. Refer to the fourminusmonth data below and apply the highminuslow method to answer the question.
Minutes
Total Bill
January
480
$3,500
February
210
$2,695
March
180
$2,640
April
300
$2,875
What is the variable cost per minute? (Round your answer to the nearest cent.)

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_2

Step: 3

blur-text-image_3

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

Biometric And Auditing Issues Addressed In A Throughput Model

Authors: Waymond Rodgers

1st Edition

1617356530, 978-1617356537

More Books

Students also viewed these Accounting questions