The cost data for Evencoat Paint for the year 2019 is as follows:MonthGallons ofPaintProduced EquipmentMaintenanceExpensesJanuary 110,000 $70,700 February 68,000 66,800 March 71,000 67,000 April 77,000 68,100 May 95,000 69,200 June 101,000 70,300 July 125,000 70,400 August 95,000 68,900 September 95,000 69,500 October 89,000 68,600 November 128,000 72,800 December 122,000 71,450 A. Using the high-low method, express the company’s maintenance costs as an equation where x represents the gallons of paint produced. Then estimate the fixed and variable costs.Fixed cost $Variable cost $

Variable cost an be computed as, Variable cost = (Cost at highest activity - Cost at lowest…

Answered: . Using the high-low method, express…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The cost data for Evencoat Paint for the year 2019 is as follows:

Month	Gallons of Paint Produced		Equipment Maintenance Expenses
January		110,000		$70,700
February		68,000		66,800
March		71,000		67,000
April		77,000		68,100
May		95,000		69,200
June		101,000		70,300
July		125,000		70,400
August		95,000		68,900
September		95,000		69,500
October		89,000		68,600
November		128,000		72,800
December		122,000		71,450

A. Using the high-low method, express the company’s maintenance costs as an equation where x represents the gallons of paint produced. Then estimate the fixed and variable costs.

Fixed cost $

Variable cost $

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