Utility costs at one of Hannemann Corporation's factories are listed below:
Management believes that utility cost is a mixed cost that depends on machine-hours.
Required:
Estimate the variable cost per machine-hour and the fixed cost per month using the high-low method. Show your work!
Definitions:
Productive Systems
Systems designed to enhance efficiency and productivity in the production of goods or delivery of services.
Finished Products
Refer to goods that have completed all stages of production and are ready for sale or distribution to the end-user.
Production Efficiencies
The optimization of processes, resources, and equipment to maximize output while minimizing waste and costs in manufacturing.
Lean Production
A systematic method for waste minimization within a manufacturing system without sacrificing productivity.
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