Return to question Required: Wallace Heating is attempting to estimate its costs of manufacturing heating ducts for the coming year using the high-low method. The cost driver is number of labor hours. Wallace determines that the high and low costs are $26,662 and $19,261, respectively, and the values for the cost driver are 3,940 and 2,453 hours, respectively. What is the variable cost per hour? (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Variable cost $ 16.63 per hour

Required: Wallace Heating is attempting to estimate its costs of manufacturing heating ducts for the coming year using the high-low method. The cost driver is number of labor hours. Wallace determines that the high and low costs are $26,662 and $19.261, respectively, and the values for the cost driver are 3,940 and 2,453 hours, respectively. What is the variable cost per hour? (Round your onswer to 2 decimal places.) (x) Answer is complete but not entirely correct