Question: The Fairmont Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month Cost of

  1. The Fairmont Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data:

    Month Cost of Electricity (Y) Direct Labor-Hours (X)
    January $14,000 1,500
    April $15,000 1,700
    July $17,000 2,000
    October $14,500 1,600
    What would be the best equation using the high-low method?

    Y = $4,000 + $7X

    Y = $0 + $9X

    Y = $1,000 + $8X

    Y = $5,000 + $6X

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

The Fairmont Machine Shop wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month Cost of Electricity ( Y ) Direct Labor - Hours ( X )...

Q:

Answer all 30 questions multiple choice, answers needed with 1 hour and 15 minutes. QUESTION 1 When management directs attention only to those activities not proceeding according to plan, they are...

Q:

Answer all 30 questions multiple choice, answers needed with 1 hour and 15 minutes. QUESTION 1 When management directs attention only to those activities not proceeding according to plan, they are...

Q:

1 When management directs attention only to those activities not proceeding according to plan, they are engaging in: Activity-based management Organization-based management Management by exception...

Q:

1 When management directs attention only to those activities not proceeding according to plan, they are engaging in: Activity-based management Organization-based management Management by exception...

Q:

Answer all 30 questions multiple choice, answers needed with 1 hour and 15 minutes. QUESTION 1 When management directs attention only to those activities not proceeding according to plan, they are...

Q:

Please, I need help with the following questions. I have 2 hours to complete them!!! QUESTION 1 When management directs attention only to those activities not proceeding according to plan, they are...

Q:

hi posted the quest see attachment, its MC and 30 quections Question 1 When management directs attention only to those activities not proceeding according to plan, they are engaging in:...

Q:

Answer all 30 questions multiple choice, answers needed with 1 hour and 15 minutes. QUESTION 1 When management directs attention only to those activities not proceeding according to plan, they are...

Q:

Answer all 30 questions multiple choice, answers needed with 1 hour and 15 minutes. QUESTION 1 When management directs attention only to those activities not proceeding according to plan, they are...

Q:

A combination of personnel, records, and procedures that a business uses to provide financial data is known as A. output B. source documents OC. an accounting information system OD. input

Q:

p and q represent the following statements: p: 4+4 = 12 q: 3x6 = 18 Determine the truth-value for the following statement: ~pvq

Q:

Today, the most successful retailers concentrate on Multiple Choice treating customers based on share of wallet. treating all customers identically. compiling customer demographics.

Q:

(a) You are asked to make 10mL of a 10% solution of organic fuel. How many grams of fuel will you need to make your solution? The definition of a 10% solution is 10g of solute in a 100mL solution....

Q:

Your company recently launched a new dry shampoo. Although initial sales were strong, they have steadily declined over the last year and a half. You have decided to conduct further market research,...

Q:

Suppose that a computer can execute 1 billion instructions/sec and that a system call takes 1000 instructions, including the trap and all the context switching. How many system calls can the computer...

Q:

ATP synthase is a well conserved multimeric protein. All organisms studied to date contain homologs of 8 different subunits which are essential for the complexes function. However, you have just...

Q:

$5B has been spent on what some consider to be the most expensive and extensive estuarine recovery in the history of the world. a) How can you justify this expense to the public ratepayers who paid...

Q:

Select two kinds of goods (other than refrigirator and air conditioner) and evalute their quality, the homework should include the following contents: 1.The reasons for the evalution of these two...

Q:

2. In this chapter, the reader should reflect on the following concepts: Linear relationships, circular relationships, patterns, critical variables and sociological laws.

Q:

2. As your starting point, take a situation at your workplace that often recurs, and answer the following questions: (a) Which elements are included? (b) How are the elements related to each other?...

Q:

A greater tendency to create winwin situations.