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Use the high-low method to determine the variable and fixed cost components of Quick Lube's operating costs. Use this information to project the monthly operating
Use the high-low method to determine the variable and fixed cost components of Quick Lube's operating costs. Use this information to project the monthly operating costs for a month in which the company performs 3,600 oil changes. (Click the icon to view the data.) Use the high-low method to determine the variable and fixed costs components of Quick Lube's operating cost equation. First identify the formula and calculate the variable cost component (slope). (Round your answer to the nearest cent.) + Variable cost per unit + Next identify the formula and compute the fixed cost component (the vertical intercept) using the costs for the highest level of activity. (Round your answe Total fixed costs = Complete Quick Lube's operating cost equation. (Enter the variable cost to the nearest cent and the fixed cost to the nearest whole dollar.) y= x+ Use your answer from above to predict total monthly operating costs if Quick Lube performs 3,600 oil changes. (Round your answer to the nearest whole The total monthly operating costs if Quick Lube performs 3,600 oil changes is Data table Month Number of Oil Changes Operating Expenses January 3,400 $ 38,000 February .... 2,800 S 34,000 March...... 3,000 $ 35,000 April 2,900 $ 34,500 May. 3,800 39,000 June....... 3,100 $ 35,500 Print Done X
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