The controller of Norton Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs.
Month Total Maintenance Costs Total Machine Hours
January $2,700 300
February $3,000 350
March $3,600 500
April $4,500 690
May $3,200 500
June $5,500 700
1. Determine the variable cost components using the high-low method. (Round variable cost to 3 decimal places e. g. 12.250.)
Variable cost per machine hour $ _
2. Determine the fixed cost components using the high-low method. (Round answer to 0 decimal places e. g. 2,520.)
Total fixed costs $ _
Answers: 2
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