Use the information below to answer the following question(s).
The Monroe Company uses the high-low method to estimate the cost function. The information for the current year is provided below.

-What is Monroe Company's variable labour cost per machine hour?
A) $26.91
B) $18.00
C) $16.67
D) $8.00

Question

Use the information below to answer the following question(s).
The Monroe Company uses the high-low method to estimate the cost function. The information for the current year is provided below.
 
-What is Monroe Company's variable labour cost per machine hour?
A) $26.91 
B) $18.00 
C) $16.67 
D) $8.00

Quizplus · Accepted Answer

D) Slope = ($4,000 - $2,960)/(240 - 110) = $8.00

Use the Information Below to Answer the Following Question(s)