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The following information is available for a company's maintenance cost over the last seven months. Maintenance Hours Maintenance Cost Month June 9 $5,900 July 18 7,350 August 12 5,550 September 15 6,450 October 21 7,350 November 24 10,170 December 6 4,050 Using the high-low method, estimate both the fixed and variable components of its maintenance cost.

The following information is available for a company's maintenance cost over the last seven months. Maintenance Hours Maintenance Cost Month June 9 $5,900 July 18 7,350 August 12 5,550 September 15 6,450 October 21 7,350 November 24 10,170 December 6 4,050 Using the high-low method, estimate both the fixed and variable components of its maintenance cost.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is available for a company's maintenance cost over the last seven months. Maintenance Hours Maintenance Cost Month June 9 $5,900 July 18 7,350 August 12 5,550 September 15 6,450 October 21 7,350 November 24 10,170 December 6 4,050 Using the high-low method, estimate both the fixed and variable components of its maintenance cost.
Transcribed Image Text:The following information is available for a company's maintenance cost over the last seven months. Maintenance Hours Maintenance Cost Month June 9 $5,900 July 18 7,350 August 12 5,550 September 15 6,450 October 21 7,350 November 24 10,170 December 6 4,050 Using the high-low method, estimate both the fixed and variable components of its maintenance cost.
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