Jimmy is a manager at Jims Ltd. He uses the high-low method to estimate electricity cost, which
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Jimmy is a manager at Jims Ltd. He uses the high-low method to estimate electricity cost, which varies in relation to machine hours. Based on the following data, how would the cost function be stated (approximately) if X is the number of machine hours? Use 4 decimal points for variable cost.
Month | Electricity Expenses | Machine Hours |
---|---|---|
Jan | $495 | 790 |
Feb | $1000 | 800 |
Mar Apr | $1500 $1220 | 1790 1100 |
Related Book For
Management Accounting
ISBN: 9780077185534
6th Edition
Authors: Will Seal, Carsten Rohde, Ray Garrison, Eric Noreen
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