The Following Are Monthly Totals Taken from the Log of Laser

question 32

Essay

The following are monthly totals taken from the log of laser printer used by the Hardcopy Printing International.Cost was based on a flat fee plus a declining cost per copy made after a minimum number of copies had been made each month.

To differentiate the variable and fixed costs in the use of this machine for future planning,use the high-low method to (a)determine the variable cost per copy (round your answers to two decimal places)and (b)compute the fixed and variable costs for the months of August and December (round your answers to nearest whole number).

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Definitions:

Net Income

Net income refers to the total profit of a company after all expenses, taxes, and costs have been subtracted from its total revenue.

Financial Asset

Any asset that is cash, an ownership interest in an entity, or a contractual right to receive or deliver cash or another financial instrument.

Pension Reserves

Funds that are set aside by a corporation or government to support its future pension obligations to its employees.

Mutual Fund Shares

Units of ownership in a mutual fund, which pools money from many investors to purchase a diversified portfolio of securities.