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Calculate the total fixed cost per month

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Reference no: EM132720518

Problem - Sandy's Socks makes the world's best socks. Information for the last eight months follows:

Month

Number of Socks Produced

Total Cost

January

8,000

$7,000

February

4,500

5,000

March

7,000

6,250

April

8,600

7,750

May

3,750

5,000

June

6,000

6,250

July

3,000

4,250

August

5,000

5,750

Required - Using the high-low method, calculate the total fixed cost per month and the variable cost per sock.

Reference no: EM132720518

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