The Phone Bill for an Accounting Firm Consists of Both

question 7

Multiple Choice

The phone bill for an accounting firm consists of both fixed and variable costs. Refer to the 4-month data below and apply the high-low method to answer the question. $\begin{array}{|l|r|r|} \hline& \text { Minutes } & \text { Total Bill } \\\hline \text { Tanuary } & 460 & \$ 3,000 \\\hline \text { February } & 200 & \$ 2,673 \\\hline \text { March } & 160 & \$ 2,625 \\\hline \text { April } & 300 & \$ 2,800 \\\hline\end{array}$
- What is the variable cost per minute?

• A) $1.25
• B) $0.67
• C) $1.08
• D) $0.58

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