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Slonaker Inc. has provided the following data concerning its maintenance costs: Machine-Hours Maintenance Cost April 5,811 $30,391 May 5,794 $30,301 June 5,776 $30,249 July 5,773
Slonaker Inc. has provided the following data concerning its maintenance costs:
Machine-Hours | Maintenance Cost | |
April | 5,811 | $30,391 |
May | 5,794 | $30,301 |
June | 5,776 | $30,249 |
July | 5,773 | $30,245 |
August | 5,729 | $30,090 |
September | 5,807 | $30,372 |
October | 5,833 | $30,412 |
November | 5,813 | $30,390 |
December | 5,797 | $30,330 |
Management believes that maintenance cost is a mixed cost that depends on machine-hours. |
Required: |
Estimate the variable cost per machine-hour and the fixed cost per month using the high-low method. (Round your "Variable cost" to 2 decimal places. Omit the "$" sign in your response.) |
Variable cost per machine-hour | $ |
Fixed cost per month | $ |
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