Question
Ivanhoe Corp. has collected the following data concerning its maintenance costs for the past 6 months. Units Produced Total Cost July 18,700 $39,712 August 33,344
Ivanhoe Corp. has collected the following data concerning its maintenance costs for the past 6 months.
Units Produced | Total Cost | |||||||
---|---|---|---|---|---|---|---|---|
July | 18,700 | $39,712 | ||||||
August | 33,344 | 50,016 | ||||||
September | 37,512 | 57,310 | ||||||
October | 22,924 | 40,126 | ||||||
November | 41,680 | 77,629 | ||||||
December | 39,596 | 64,604 |
Part 1
Compute the variable cost per unit using the high-low method. (Round answer to 2 decimal places, e.g. 2.25.)
Variable cost per unit | $enter the variable cost per unit in dollars rounded to 2 decimal places |
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Part 2
Compute the fixed cost elements using the high-low method.
Fixed costs | $enter the fixed costs in dollars |
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