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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
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 3.900 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.) Change in costs Change in volume Variable cost per unit Data table Month Number of Oil Changes Operating Expenses January.... 3,700 $ 36,800 February 3,100 $ 32,800 March 3,300 $ 33,800 April 3,200 33,300 May 4,100 37,800 June 3,400 $ 34,300 Print Done
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