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Slonaker Inc. has provided the following data concerning its maintenance costs: Machine-Hours Maintenance Cost April 5,823 $30,403 May 5,806 $30,313 June 5,788 $30,261 July 5,785
Slonaker Inc. has provided the following data concerning its maintenance costs:
Machine-Hours | Maintenance Cost | |
April | 5,823 | $30,403 |
May | 5,806 | $30,313 |
June | 5,788 | $30,261 |
July | 5,785 | $30,257 |
August | 5,741 | $30,102 |
September | 5,819 | $30,384 |
October | 5,857 | $30,436 |
November | 5,825 | $30,402 |
December | 5,809 | $30,342 |
Management believes that maintenance cost is a mixed cost that depends on machine-hours. |
Required: |
Estimate the variable cost per machine-hour and the fixed cost per month using the high-low method. (Round your "Variable cost" to 2 decimal places. Omit the "$" sign in your response.) |
Variable cost per machine-hour | $ |
Fixed cost per month | $ |
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