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(L0 1 2). AN The controller of Norton Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance

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(L0 1 2). AN The controller of Norton Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Determine fixed and variable costs using the high-low method and prepare graph Month January February March April Total Maintenance Costs $2,700 3,000 3,600 4,500 3,200 5,500 Total Machine Hours 300 350 500 690 May June 400 700 Instructions a. Determine the fixed- and variable-cost components using the high-low method. b. Prepare a graph showing the behavior of maintenance costs, and identify the fixed- and variable-cost elements. Use 100-hour increments and $1,000 cost increments

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