Paine Company wishes to determine the fixed portion of its electrical costs (a mixed cost)....
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Accounting
Paine Company wishes to determine the fixed portion of its electrical costs (a mixed cost). Management believes that the variable portion of the electrical costs is driven by machine-hours. Information for the previous three months follows:
Machine Hours:
January - 33,000
February - 31,000
March - 34,000
Electrical Cost:
January - 600
February - 585
March - 610
Using the high-low method, the fixed portion of the company's electrical costs would be estimated to be closest to?
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