Angie March owns a catering company that stages banquets and parties for both individuals and companies. The business is seasonal, with heavy demand during the summer months and year-end holidays and light demand at other times. Angie has gathered the following cost information from the past year: Labor Overhead Month Hours Costs January 3,200 $59,040 February 2,500 56,390 March 2,600 57,390 April 3,700 60,790 May 4,000 63,640 June 5,200 67,040 July 7,500 74,890 August 7,200 72,040 September 6,100 67,590 October 4,200 64,540 November 2,800 59,240 December 6,200 68,540 Total 55,200 $771,130 (a) Your answer is partially correct. Identify the high and low points. Activity Level High point Low point 7500 $ 74890 2500 $ 56390 Using the high-low method, compute the overhead cost per labor hour and the fixed overhead cost per month. (Round variable cost to 2 decimal places, e.g. 15.25 and fixed cost to O decimal places, e.g. 5,275.) Variable cost = $ = $ Fixed cost eTextbook and Media Save for Later per labor hour Attempts: 2 of 3 used Submit Answer