Electrical costs at one of Rome Corporation's factories are listed below: Machine-Hours Electrical CostMarch458 $1,007April423 $934May440 $979June409 $902July426 $952August372 $822September414 $926October431 $949November468 $1,025 Management believes that electrical cost is a mixed cost that depends on machine-hours. Using the high-low method, the estimate of the variable component of electrical cost per machine-hour is closest to:
A. $1.80
B. $0.47
C. $2.11
D. $2.21
Answer: C
You might also like to view...
The two items that must be estimated with respect to a plant asset in order to properly allocate cost to the affected accounting periods are ______________________________ and ______________________________
Fill in the blank(s) with correct word
If a research report will be used across different countries and languages only one report should be prepared
Indicate whether the statement is true or false
Comet? Canisters, Inc. has collected the following data for the current? year: ... What is the unit product cost using absorption? costing? (Round your answer to the nearest? cent.)
Comet? Canisters, Inc. has collected the following data for the current? year:
Beginning Finished Goods Inventory | 60 units |
Units produced | 550 units |
Units sold | 610 units |
Sales price | $140 per unit |
Direct materials | $32 per unit |
Direct labor | $18 per unit |
Variable manufacturing overhead | $19 per unit |
Fixed manufacturing overhead | $11,200 per year |
Variable selling and administrative costs | $4 per unit |
Fixed selling and administrative costs | $12,500 per year |
The executive team at McDonald's Restaurants has decided that customers should expect to sometimes be treated rudely because many store associates earn close to the minimum wage
Indicate whether the statement is true or false.