Question 2 (30 marks) The controller of Magnum corporation has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs: Month January February Total Maintenance Costs Total Machine Hours $2,750 3,500 3,000 4,000 March 3,600 6,000 April 4,500 7,900 May 3,200 5,000 June 5,000 8.000 Required: a) Determine the fixed and variable cost components using the high-low method. b) Prepare a graph showing the behaviour of maintenance costs and identify the fixed and variable cost elements. Use 2,000-hour increments and $1,000 cost increments. I Page 3 / 5 - Q + O