During the Months of January Through June, the Following Total

question 45

Essay

During the months of January through June, the following total utility costs were paid at various production volumes:
a. Use the high-low method to calculate the cost formula utility costs.b. If the production volume were expected to be 50,000 units for the month of July, what amount of total costs would be expected?

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Definitions:

Revenue And Expenses

Refers to the income generated from normal business operations and the costs incurred to generate that income.

Sharing Profits And Losses

A method used in partnerships and some other business arrangements to distribute the financial results of the business among its owners or members.

Equally

In a manner that is the same in quantity, size, degree, or value for all parties involved.

Salary Allowance

Additional compensation provided to employees on top of their regular salary, often for specific purposes or expenses.