Slonaker Inc. has provided the following data concerning its maintenance costs:
|
Machine-Hours |
Maintenance
Cost |
| April |
5,800 |
$30,380 |
| May |
5,783 |
$30,290 |
| June |
5,765 |
$30,238 |
| July |
5,762 |
$30,234 |
| August |
5,718 |
$30,079 |
| September |
5,796 |
$30,361 |
| October |
5,811 |
$30,390 |
| November |
5,802 |
$30,379 |
| December |
5,786 |
$30,319 |
|
Management believes that maintenance cost is a mixed cost that depends on machine-hours.
Required:
Estimate the variable cost per machine-hour and the fixed cost per month using the high-low method.(Round your "Variable cost" to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
Variable cost per machine-hour $
Fixed cost per month $