You have the following information from the records of a restaurant:

Use the high–low method to calculate total fixed cost and total variable cost for the year.LO1

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Sales Revenue January February $ 11,200 Wage Costs $ 5,300 13,000 6,100 March 14,900 6,200 April 19,100 7,000 May 22,000 9,000 June 24,200 9,600 July 26,300 9,700 August 27,400 10,100 September 23,500 8,300 October 20,100 7,600 November 18,200 8,000 December 16,000 7,100 Totals $235,900 $94,000