Problem 1: The following information is available for a company's utility cost for operating its machines over the last four months.
|
Month
|
Machine hours
|
Utility cost
|
|
January
|
1,080
|
$5,630
|
|
February
|
1,980
|
$7,260
|
|
March
|
2,760
|
$8,100
|
|
April
|
780
|
$3,960
|
Required: Using the high-low method, the estimated variable cost per machine hour for utilities is:
- $2.93
- $5.08
- $2.09
- $3.78
- $5.57
Problem 2: The following information is available for a company's cost of sales over the last five months.
|
Month
|
Units sold
|
Cost of sales
|
|
January
|
480
|
$34,200
|
|
February
|
880
|
$41,000
|
|
March
|
2,000
|
$53,000
|
|
April
|
2,800
|
$65,000
|
Required - Using the high-low method the estimated variable cost of sales per unit sold is:
- $23.21
- $71.25
- $30.24
- $13.28
- $26.50
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