Gargymal Company would like to estimate the variable and fixed components of its electrical costs and has
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Gargymal Company would like to estimate the variable and fixed components of its electrical costs and has compiled the following data for the past five months of operations.
Machine Hours | Electrical Cost | |
---|---|---|
August | 1,000 | $1,620 |
September | 900 | $1,510 |
October | 1,500 | $1,870 |
November | 2,000 | $1,950 |
December | 1,300 | $1,730 |
Using the high-low method of analysis, the estimated variable cost per machine hour for electricity is closest to which of the following?
A. $0.40 |
B. $1.68 |
C. $2.50 |
D. $0.98 |
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