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M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments
M5-10 (Algo) Estimating Cost Behavior Using High-Low Method [LO 5-3] Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for the first half of the year: Number of Total Month Appointments Cost January 275 $6,550 February 250 6,400 March 475 7,000 April 225 5,700 May 200 5,300 June 150 5,700 Using the high-low method, calculate the total fixed cost per month and the variable cost per tanning appointment. (Round your "Variable Cost per Unit" answer to 2 decimal places and "Fixed Cost" answer to the nearest dollar amount.) Variable Cost per Unit $ 2:00 Fixed Cost $ 5,500
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