ACCOUNTING
Multiple Choice
The Hunter Company uses the high-low method to estimate the cost function. The information for 20x3 is provided below:
Machine-hours Labor Costs
Highest observation of cost driver 400 $10,000
Lowest observation of cost driver 240 $ 6,800
What is the slope coefficient per machine-hour?
a. $28.33
b. $00.05
c. $20.00
d. $25.00
Click here for the SOLUTION
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