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Question - Research Inc., performs laboratory tests. Use the high-low method to determine the fixed and variable components of a mixed cost given the following observations:
Volume (number of tests) = 4,800 with Total costs = 6,000
and
Volume (number of tests) = 19,200 with Total costs = 9,600
Potter received guaranteed payments of $4,000 per month. Calculate the amount of income from the partnership that Potter should report
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