The following data relate to the Torrence Company for May and August of the current year:

	May				August
Maintenance hours		22,000				28,000
Maintenance cost	$	1,273,000			$	1,387,000

May and August were the lowest and highest activity levels, and Torrence uses the high-low method to analyze cost behavior. Which of the following statements is true?

• The variable maintenance cost is $50 per hour.

• The variable maintenance cost is $58 per hour.

• The variable maintenance cost is $51 per hour.

• The fixed maintenance cost is $855,000 per month.

• More than one of the other answers is true.