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Slonaker Inc. has provided the following data concerning its maintenance costs: Machine-Hours Maintenance Cost April 5,810 $30,390 May 5,793 $30,300 June 5,775 $30,248 July 5,772
Slonaker Inc. has provided the following data concerning its maintenance costs:
Machine-Hours | Maintenance Cost | |
April | 5,810 | $30,390 |
May | 5,793 | $30,300 |
June | 5,775 | $30,248 |
July | 5,772 | $30,244 |
August | 5,728 | $30,089 |
September | 5,806 | $30,371 |
October | 5,831 | $30,410 |
November | 5,812 | $30,389 |
December | 5,796 | $30,329 |
Management believes that maintenance cost is a mixed cost that depends on machine-hours. |
Required: |
Estimate the variable cost per machine-hour and the fixed cost per month using the high-low method. (Round your "Variable cost" to 2 decimal places. Omit the "$" sign in your response.) |
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