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Wallace Heating is attempting to estimate its costs of manufacturing heating ducts for the coming year using the high-low method. The cost driver is number
Wallace Heating is attempting to estimate its costs of manufacturing heating ducts for the coming year using the high-low method. The cost driver is number of labor hours. Wallace determines that the high and low costs are $25,830 and $18,414, respectively, and the values for the cost driver are 3,495 and 1,958 hours, respectively. What is the variable cost per hour? (Round your answer to 2 decimal places.)
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