GLOBAL RECIPROCAL COLLEGECALOOCAN CITYAFAR Enhancement CourseMay 10, 2021Midterm ExamInstructor:John Bo S. CayetanoUse the following information for the next two (2) questions:As part of a cost study, the cost accountant of Shinly Corporation has recorded the cost of operations atseven different levels of materials usage.The cords show the following:Kilos of materialsCosts of operations80P80060480203201201,2001401,280404801001,040Sum of the kilos (åx)560Sum of the costs (åy)P5,600Sum of the kilos multiplied by the cost (åxy)P565,600Sum of the kilos squared (åx2)56,0001)Using the high and low points method, the cost formula may be expressed as:A.Total cost = 320 + 16xC.Total cost = 160 + 8xB.Total cost = 103 + 8.71xD.Total cost = 206 + 10x
2)Under the method of least squares, the cost formula is expressed as:
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3)The projected cost of operations for 90 kilos of materials is
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Use the following information for the next (14) questions:Machine hours and electricity costs for Britney Industries for 2021 were as follows:MonthsMachine HoursUtility CostJanuary4,80022,080February5,56825,200March3,64816,200April5,95227,600May7,29633,900June6,33626,400July7,87229,700August6,72027,300September3,84018,600October7,10431,200November9,02437,200December8,06433,3004)Using the high-low method, determine the variable electricity cost per machine hour (round off nearestcentavo)3.51
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5)Using the high-low method, determine the estimated fixed electricity costs per monthA.2,277.12B.5,796.48C.1,916.16D.5,525.76