loader  Loading... Please wait...

Question(s) / Instruction(s):

Annarummo Inc., an escrow agent, has provided the following data concerning its office expenses:

                Escrows Completed        Office Expenses

 January               51                           $15,551

 February             103                         $21,122

 March                  29                           $12,825

 April                      92                           $14,900

 May                      46                           $12,000

 June                     51                           $15,551

 July                       65                           $11,900

 August                 19                           $10,400

 September        14                           $11,510

Management believes that office expense is a mixed cost that depends on the number of escrows completed. Note: Real estate purchases usually involve the services of an escrow agent that holds funds and prepares documents to complete the transaction.

Using the high-low method, the estimate of the variable component of office expense per escrow completed is closest to:

a)      $112

b)      $108

c)       $305

d)      $208

Find Similar Answers by Subject


Student Reviews

Rate and review your solution! (Please rate on a Scale of 1 - 5. Top Rating is 5.)


Expert's Answer
Download Solution:
$1.79

This solution includes:

  • Plain text
  • Cited sources when necessary
  • Attached file(s)
  • Solution Document(s)



Reach Us

408-538-8534

20-3582-4059

39-008-4233

+1-408-904-6494