Question
The controller of Pharoah Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month Total Maintenance
The controller of Pharoah Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs.
Month | Total Maintenance Costs | Total Machine Hours | |||
---|---|---|---|---|---|
January | $2,620 | 310 | |||
February | 2,920 | 360 | |||
March | 3,520 | 510 | |||
April | 4,420 | 680 | |||
May | 3,120 | 510 | |||
June | 5,220 | 710 |
(a1)
Correct answer iconYour answer is correct.
Determine the variable cost components using the high-low method. (Round answer to 2 decimal places e.g. 2.25.)
Variable cost per machine hour | $enter the variable cost per machine hour in dollars rounded to 2 decimal places |
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(a2)
Incorrect answer iconYour answer is incorrect.
Determine the fixed cost components using the high-low method.
Total fixed costs | $enter the fixed costs in dollars |
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