Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Thornton Computer Services, Inc. has been in business for six months. The following are basic operating data for that period: Nov. Service hours Revenue Operating
Thornton Computer Services, Inc. has been in business for six months. The following are basic operating data for that period: Nov. Service hours Revenue Operating costs July 120 $6,000 $4,300 Aug. 136 $6,800 $5,300 Month Sept. Oct. 260 420 $13,000 $21,000 $ 7,100 $11,200 320 $16,000 $ 9,100 Dec. 330 $16,500 $10,600 Required a. What is the average service revenue per hour in each month and the overall average for the six-month period? b. Use the high-low method to estimate the total monthly fixed cost and the variable cost per hour. c. Determine the average contribution margin per hour. Complete this question by entering your answers in the tabs below. Required A Required B Required What is the average service revenue per hour in each month and the overall average for the six-month period? July Aug Sept. Oct. Nov. Dec Total Average Month Average service revenue per hour (Required A Required B > Required A Required B Required Use the high-low method to estimate the total monthly fixed cost and the variable cost per hour. Variable cost Fixed cost per hour per month Required A Required B Required Determine the average contribution margin per hour. Average contribution margin per hour
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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