Given the following cost and activity observations for Pike Company's utilities,use the high-low method to calculate Pike Company's variable utilities costs per machine hour.
Definitions:
5S
A workplace organization method originating from Japan that stands for Sort, Set in order, Shine, Standardize, and Sustain.
Lean Production
A manufacturing methodology that focuses on minimizing waste within manufacturing systems while simultaneously maximizing productivity.
Sort/Segregate
The process of separating items into different categories based on specific criteria to improve efficiency, organization, or processing.
Seven Wastes
Overproduction; queues; transportation; inventory; motion; overprocessing; defective product.
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