Swanson and Associates presently leases a copy machine under an agreement that calls for a...
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Accounting
Swanson and Associates presently leases a copy machine under an agreement that calls for a fixed fee each month and a charge for each copy made. Swanson made 7,000 copies and paid a total of $360 in March; in May, the firm paid $280 for 5,000 copies. The company uses the high-low method to analyze costs.
Swanson's variable cost per copy is:
$0.040.
$0.051.
$0.053.
$0.056.
an amount other than those given above.
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