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QS 21-3 Cost behavior estimation-high-low method LO P1 The following information is available for a companys maintenance cost over the last seven months. Month Units
QS 21-3 Cost behavior estimation-high-low method LO P1
The following information is available for a companys maintenance cost over the last seven months.
Month | Units Produced | Maintenance Cost | ||||
June | 90 | $ | 3,710 | |||
July | 150 | 5,240 | ||||
August | 110 | 4,220 | ||||
September | 140 | 4,730 | ||||
October | 200 | 5,750 | ||||
November | 230 | 6,260 | ||||
December | 50 | 3,200 | ||||
Using the high-low method, estimate both the fixed and variable components of its maintenance cost.
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