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Exercise 5A-1(Algo) High-Low Method [L05-10] The Cheyenne Hotel in Big Sky, Montana, has...

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Accounting

Exercise 5A-1(Algo) High-Low Method [L05-10]
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of
occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly
seasonal, with peaks occurring during the ski season and in the summer.
Required:
Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-
day. (Do not round your intermediate calculations. Round your Variable cost answer to 2 decimal places and Fixed cost
element answer to nearest whole dollar amount.)
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