Business, 22.02.2021 19:10 Gutierrezarlene4595
Account analysis, high-low. Luwak Coffees wants to find an equation to estimate monthly utility costs. Luwak has been in business for one year and has collected the following cost data for utilities:
Month January February March April May June July August September October November December Electricity Bill $ 720 $ 840 $1,098 $ 810 $1,176 $1,248 $1,044 $1,194 $1,260 $1,230 $1,188 $1,266 Kilowatt Hours Used 2,400 2,800 3,660 2,700 3,920 4,160 3,480 3,980 4,200 4,100 3,960 4,220 Telephone Bill $184.
1. Which of the preceding costs is variable? Fixed? Mixed? Explain.
2. Using the high-low method, determine the cost function for each cost.
3. Combine the preceding information to get a monthly operating cost function for the Stein Corporation.
4. Next month, Stein expects to use 400 machine hours, have 80 employees, and ship 9,000 units. Estimate the total operating cost for the month.
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Account analysis, high-low. Luwak Coffees wants to find an equation to estimate monthly utility cost...
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