Swanson and Associates presently leases a copy machine under an agreement that calls for a fixed fee

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Swanson and Associates presently leases a copy machine under an agreement that calls for a fixed fee each month and a charge for each copy made. Swanson made 7,000 copies and paid a total of $360 in March; in May, the firm paid $280 for 5,000 copies. The company uses the high-low method to analyze costs.

How much would Swanson's pay if it made 5,500 copies?

a. $382.50

b. $322

c. $300.

d. $292.50

An amount other than those given above?

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Introduction to Governmental and Not for Profit Accounting

ISBN: 978-0132776011

7th edition

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

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