Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to calculate Bounty' variable utilities costs per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,070 15,158 April 2,688 10,482 May 2,870 12,037 June 3,847 17,906 Oa. $1.09 Ob. $1.56 Oc. $0.16 Od. $1.05

Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to calculate Bounty' variable utilities costs per machine hour. Round your answer to the nearest cent. Cost Machine Hours March $3,070 15,158 April 2,688 10,482 May 2,870 12,037 June 3,847 17,906 Oa. $1.09 Ob. $1.56 Oc. $0.16 Od. $1.05

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. The following data pertains to activity and utility cost for two recent periods:Activity level (units) 8,000 5,000Utility cost $8,000 $6,500Utility cost is a mixed cost with both fixed and variable components. Using the high-lowmethod, the cost formula for utility cost is:A. Y = $1.00 XB. Y = $1.25 XC. Y = $4,000 + $0.50 XD. Y = $1,500 + $1.25 X
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