8.Frank Company operates a cafeteria for its employees. The number of meals served each week over the last seven weeks, along with the total costs of operating the cafeteria are given below:
Meals served Cafeteria Cost
Week 1 1500 4800
Week2 1600 5080
Week3 1800 5280
Week4 1450 4900
week5 1200 4000
week6 1650 5100
week7 1900 5400
Assume that the relevant range includes all of the activity levels mentioned in this problem.
Using the high-low method of analysis, the variable cost per meal served in the cafeteria would be estimated to be:
$1.50
$2.00
$2.80
$1.00
Assume that the relevant range includes all of the activity levels mentioned in this problem.
Using the high-low method of analysis, the variable cost per meal served in the cafeteria would be estimated to be:
11.) In a job-order costing system, the use of indirect materials that have been previously purchased is recorded as a credit to:
Work in Process inventory.
Manufacturing Overhead.
Raw Materials inventory.
Finished Goods inventory.