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.
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F34e85e5e-78b2-47e6-9a9c-340744688295%2Fc37a5937-5b13-407e-8bf2-d15764cbef9a%2Fp9947zf_processed.jpeg&w=3840&q=75)
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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