Required information [The following information applies to the questions displayed below.] Nation's Capital Fitness, Inc., operates...

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Required information [The following information applies 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: Hours of Maintenance Month January February March April Service 530 Maintenance Costs $ 5,237 460 4,190 260 2,780 490 4,340 May June 360 3,000 440 4,140 July 360 3,020 August 430 3,600 September 450 3,980 October 380 3,250 November 370 3,170 December 350 3,060 Total 4,880 $43,767 Average 407* $ 3,647* *Rounded 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 Required information [The following information applies 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: Hours of Maintenance Month January February March April Service 530 Maintenance Costs $ 5,237 460 4,190 260 2,780 490 4,340 May June 360 3,000 440 4,140 July 360 3,020 August 430 3,600 September 450 3,980 October 380 3,250 November 370 3,170 December 350 3,060 Total 4,880 $43,767 Average 407* $ 3,647* *Rounded 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