Farnor, Inc., would like to estimate the variable and fixed components of its electrical costs and has
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Question:
Machine Hours | Electrical costs | |
January | 30 | $75 |
February | 42 | $90 |
March | 35 | $81 |
April | 20 | $68 |
Using the high-low method of analysis calculate
A. the estimated variable cost per machine hour for electricity.
B. the estimated fixed cost per machine hour.
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