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Formulas and steps in solving this question? Use the following information to answer the next question(s). The following information was collected regarding maintenance costs at

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Use the following information to answer the next question(s). The following information was collected regarding maintenance costs at different activity levels measured in machine hours: Number of Machine Hours 8,000 10,000 11,000 9,000 14,000 12,000 Total Maintenance Costs $600,000 640,000 800,000 700,000 900,000 870,000 13) Using the high-low method, an estimate of the variable component for maintenance costs is A) $64.28. B) $52.50. $75.00. D$50.00 14) Using the high-low method, an estimate of the fixed portion of maintenance costs is A) $165,000. B) $224,000. C) $300,000. (D) $200,000. 15) Using the cost formula developed under the high-low method, what would be the estimate of maintenance costs if 13,000 machine hours are scheduled for next month A) $950,000. B) $882,000. C) $650,000. 850,000

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