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The following information is available for a companys maintenance cost over the last seven months. Month Maintenance Hours Maintenance Cost June 11 $ 4,510 July
The following information is available for a companys maintenance cost over the last seven months.
Month | Maintenance Hours | Maintenance Cost | ||||
June | 11 | $ | 4,510 | |||
July | 17 | 5,950 | ||||
August | 13 | 4,990 | ||||
September | 16 | 5,710 | ||||
October | 22 | 7,150 | ||||
November | 25 | 7,870 | ||||
December | 7 | 3,550 | ||||
Using the high-low method, estimate both the fixed and variable components of its maintenance cost.
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