Comco, Inc

question 49

Multiple Choice

Comco, Inc. has accumulated the following data for the cost of maintenance on its machinery for the last four months: Assume that the relevant range includes all of the activity levels mentioned in this problem. Assuming Comco uses the high-low method of analysis, the fixed cost of maintenance would be estimated to be:

• A)$14,500
• B)$5,020
• C)$13,000
• D)$12,320

---

Definitions:

Transaction Date

The exact date on which a financial transaction occurred or was executed.

General Journal

A primary accounting record used to record financial transactions that cannot be processed in specialized journals, documenting the full detail of each transaction.

Chart of Accounts

The chart of accounts is a systematic listing of all account titles and numbers used in a company's accounting system, facilitating organization and financial reporting.

Note Receivable

A financial asset representing a promise to pay a specific amount of money, plus interest if applicable, by a certain date or dates.