Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Total costs at a restaurant are listed below. Total Cost March April May June July August September October November Customers Served 11,658 11,454 11,986 13,109

image text in transcribed
Total costs at a restaurant are listed below. Total Cost March April May June July August September October November Customers Served 11,658 11,454 11,986 13,109 11,718 11,204 11,998 11,689 11,837 $ 28,395 $ 28,321 $ 28,513 $ 28,914 $ 28, 416 $ 28,231 $ 28,517 $ 28,406 $ 28,459 The restaurant's total cost is a mixed cost that depends on custon is served. The restaurant's management uses the high-low method to estimate the variable and fixed components of this cost. If the management believes that the restaurant will be able to serve 16,000 customers in December, the restaurant's estimated total cost for December is closest to (Round your intermediate calculations to 2 decimal places.)

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

Step: 3

blur-text-image

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

Medical Audit In Primary Health Care

Authors: Martin Lawrence, Theo Schofield

1st Edition

0192622676, 978-0192622679

More Books

Students also viewed these Accounting questions