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Please help me with this accounting question QS 21-3 Cost behavior estimation-high-low method LO P1 The following information is available for a company's maintenance cost
Please help me with this accounting question
QS 21-3 Cost behavior estimation-high-low method LO P1 The following information is available for a company's maintenance cost over the last seven months. Month June July August September October November December Maintenance Hours 11 17 13 16 22 25 7 Maintenance Cost $ 4,240 5,500 4,660 5,290 6,550 7,180 3,400 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per maintenance hour 0 Total cost at the high point Variable costs at the high point: Volume at the high point: Variable cost per maintenance hour Total variable costs at the high point Total fixed costs Total cost at the low point Variable costs at the low point: Volume at the low point: Variable cost per maintenance hour Total variable costs at the low point Total fixed costsStep by Step Solution
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