The Phone Bill for Ace Accounting Consists of Both Fixed

question 199

Multiple Choice

The phone bill for Ace Accounting consists of both fixed and variable costs.Refer to the four month data below and apply the high-low method to answer the question.(Round your intermediate calculations to two decimal places.) $$\begin{array} { | l | r | r | } \hline & \text { Minutes } & \text { Total Bill } \\\hline \text { May } & 480 & \$ 3,400 \\\hline \text { June } & 210 & \$ 2,680 \\\hline \text { July } & 175 & \$ 2,650 \\\hline \text { August } & 330 & \$ 2,875 \\\hline\end{array}$$ What is the fixed portion of the total cost?

• A) $976.90
• B) $1,788.70
• C) $2,219.20
• D) $2,650.00

---

Definitions:

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specified period.

Increase in Quantity

This refers to a situation where the amount of a product or service available or demanded in the market goes up.

Wage Rate

The amount of money paid per unit of time (hour, day, etc.) to compensate employees for their labor.

Gardenburger Makers

Companies or entities involved in the production of Gardenburger, a brand of meatless burgers often made from vegetables, grains, and legumes.