Nation's Capital Fitness, Inc., operates a chain of fitness centers in the Washington, DC, area. The firm's controller is accumulating data to be used in preparing its annual profit plan for the coming year. The cost behavior pattern of the firm's equipment maintenance costs must be determined. The accounting staff has suggested the use of the high-low method to develop an equation, in the form of Y-a+bX, for maintenance costs. Data regarding the maintenance hours and costs for last year are as follows: Month January February March April May June July August September October November December Hours of Maintenance Service 520 490 300 500 310 4 Be 320 400 470 350 340 320 4,00 Maintenance Costs $4,470 4,260 2,820 4,350 2,960 4,200 3.000 3,600 4.05 3,300 3,260 3.030 543,280 $3,600 Total Average Required: 1. Using the high-low method of cost estimation estimate the behavior of the maintenance costs incurred by Nation's Capital Fitness Inc Express the cost behavior pattern in equation form (Round coefficient of Xto 2 decimal places and other answer to the nearest whole dollar amount.) Monthly maintenance cost Nation's Capital Fitness, Inc., operates a chain of fitness centers in the Washington, DC, area. The firm's controller is accumulating data to be used in preparing its annual profit plan for the coming year. The cost behavior pattern of the firm's equipment maintenance costs must be determined. The accounting staff has suggested the use of the high-low method to develop an equation, in the form of Ya+bX for maintenance costs. Data regarding the maintenance hours and costs for last year are as follows: Month January February March April May June July August September October November December Total Average Hours of Maintenance Service 520 490 380 See 310 488 32e 480 478 358 30 32e Maintenance Costs $ 4,470 4,260 2,820 4,35 2,960 4,200 3.000 3,88 4,239 3,30 3160 3,00 4.888 $3,200 53,600 4ee 2. Using your answer to requirement 1. what is the variable component of the maintenance cost? (Round your answer to 2 decimal places.) Variable maintenance cost per hour The Vouwwig formiduon appies to the questions displayed below] Nation's Capital Fitness, Inc., operates a chain of fitness centers in the Washington, D.C., area. The firm's controller is accumulating data to be used in preparing its annual profit plan for the coming year. The cost behavior pattern of the firm's equipment maintenance costs must be determined The accounting staff has suggested the use of the high-low method to develop an equation, in the form of Y-a +bX. for maintenance costs. Data regarding the maintenance hours and costs for last year are as follows: Month January February March April May June July August September October November December Total Average Hours of Maintenance Service 520 490 380 5ee 310 480 320 400 47 350 340 320 4,00 400 Maintenance Costs 34,470 4,260 2,820 4,358 2,960 4,200 3.000 3,600 4,850 3100 31be 30.0 $43,200 53,68 3. Compute the predicted maintenance cost at 590 hours of activity Maintenance Nation's Capital Fitness, Inc. operates a chain of fitness centers in the Washington, D.C.. area. The firm's controller is accumulating data to be used in preparing its annual profit plan for the coming year. The cost behavior pattern of the firm's equipment maintenance costs must be determined. The accounting staff has suggested the use of the high-low method to develop an equation. In the form of Y-a+bX for maintenance costs. Data regarding the maintenance hours and costs for last year are as follows: Month January February March April May Dune July August September October November December Total Hours of Maintenance Service 520 490 389 See 318 488 -328 480 478 350 340 320 4,800 400 Maintenance Costs $4,470 4,260 2,820 4,350 2,960 4,280 3.000 3000 4,ese 3,380 3,160 3,038 545,200 32.600 Average 4.6. Compute the variable cost per hour and the fixed cost per hour at 600 hours of activity (Round your answers to 2 decimal places.) Variable cost per hour Fixed cost per hout