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Vaughn Copy & Printing wants to predict copy machine repair expense at different levels of copying activity (number of copies made). The following data have

Vaughn Copy & Printing wants to predict copy machine repair expense at different levels of copying activity (number of copies made). The following data have been gathered:

Copy Machine

Month

Repair Expense

Copies Made

May

$26,430

292,000

June

44,950

536,000

July

85,150

1,026,000

August

56,790

684,000

September

31,610

363,000

Determine the fixed and variable components of repair expense using the high-low method. Use copies made as the measure of activity. (Round variable component per copy to 2 decimal places, e.g. 0.15.)

Variable Component

$enter a dollar amount per copy rounded to 2 decimal places

per copy

Fixed Component

$enter a dollar amount per month rounded to 0 decimal places

per month

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