Question: Please show work. Thank you Practice Problem 1 Cost Behavior Standard Com Neptune Rentals offers a boat rental service. Consider the following costs of the
Practice Problem 1 Cost Behavior Standard Com Neptune Rentals offers a boat rental service. Consider the following costs of the company over the relevant range of 5,000 to 8,000 hours of operating time for its boats: Hours of Operating Time 6,000 7,000 5,000 8,000 Total costs: Variable costs $ 20,000 $168,000 $ $ no Fixed costs Total costs $188,000 Costs per hour: Variable cost Fixed cost Total cost per hour A Required: Compute the missing amounts, assuming that cost behavior patterns remain unchanged within the relevant range of 5,000 to 8,000 hours
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