Answer the Following Questions Using the Information Below:
the Mildura

question 22

Multiple Choice

Answer the following questions using the information below:
The Mildura Company has assembled the following data pertaining to certain costs that cannot be easily identified as either fixed or variable.Mildura Company has heard about a method of measuring cost functions called the 'high-low method' and has decided to use it in this situation.
$$\begin{array} { r r } \text { Cost } & \text { Hours } \\\$ 24900 & 5250 \\24000 & 5500 \\36400 & 7500 \\44160 & 9750 \\45000 & 9500\end{array}$$
-What is the cost function?

• A)y = $4875 + $5.25X
• B)y = $43 191 + $0.19X
• C)y = $41 900 + $0.23X
• D)y = $2430 + $4.28X

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Definitions:

Property, Plant & Equipment

This refers to tangible assets that are expected to be used in the production of goods or services and are not intended for sale in the ordinary course of business.

Current Rate Method

An accounting technique used to convert all foreign currency items into the reporting currency at the current exchange rate.

Translated

In financial contexts, refers to the process of converting the financial statements of a foreign entity into the reporting currency of the parent company.

Temporal Method

An accounting technique for converting the financial statements of a subsidiary in a foreign currency into the parent company's reporting currency.