Figure 3-11

question 97

Multiple Choice

Figure 3-11.The following four months of data were collected on utility cost and the number of labor hours in a factory.
-Refer to Figure 3-11. Using the high-low method, compute the fixed cost of electricity.

• A) $13,740
• B) $10,860
• C) $6,400
• D) None of these are correct.

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Definitions:

Contract Law

The body of law that governs the creation and enforcement of agreements between parties.

Canada

A country in North America consisting of 10 provinces and 3 territories, known for its vast landscapes and multicultural diversity.

Enforceable

A legal term describing a contract or obligation that is recognized by law and can be upheld in a court of law.

Deposit

A deposit is a sum of money paid into a bank account or paid as part of a financial transaction as a pledge or part-payment, often refundable under specific conditions.