The Following Six Months of Data Were Collected on Electricity

question 184

Essay

The following six months of data were collected on electricity cost and the number of machine hours in a factory.
Electricity Machine
Month cost hours
June $25,160 4,500
July 26,170 4,810
August 27,250 5,120
September 26,680 5,010
October 27,950 5,430
November 27,500 5,190
Required:
A. Using the high-low method, calculate the variable rate for the electricity cost.
B. Using the high-low method, calculate the fixed cost of electricity.
C. Estimate the total electricity cost to be incurred in December if 5,300 machine hours are incurred.

Explain the concept of social functions, including manifest and latent functions, and dysfunctions.

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Definitions:

Trademark Infringement

The unauthorized use of a trademark or service mark on or in connection with goods and/or services in a manner that is likely to cause confusion or deception among consumers.

Fair Use Doctrine

A legal principle allowing limited use of copyrighted material without permission for purposes such as criticism, comment, reporting, teaching, or research.

Trade Secret

Information that a company keeps confidential to maintain an advantage over competitors.

Public Plant Tour

An organized visit to a factory or industrial site that is open to the general public for educational or promotional purposes.