Stewart Company manufactures sleds. The management accountant wants to calculate the fixed and variable costs associated with the leasing of machinery. Data for the past four months were collected as follows: Month Lease cost Machine hours April May June July $5,000 $2,800 Using the high-low method, calculate the fixed cost of leasing. $1,000 $15,000 10,000 12.000 16,000 $2,600 800 600 770 1,100

Stewart Company manufactures sleds. The management accountant wants to calculate the fixed and variable costs associated with the leasing of machinery. Data for the past four months were collected as follows: Using the high-low method, calculate the fixed cost of leasing. \begin{tabular}{|} \hline$5,000 \\ \hline$2,800 \\ \hline$1,000 \\ \hline$2,600 \\ \hline \end{tabular}