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Determine the fixed cost component using the high-low method

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Reference no: EM133115551

Question - The controller of Ivanhoe Industries has collected the following monthly expense data for use in analyzing the cost behaviour of maintenance costs:

Month

Total
Maintenance Costs

Total
Machine Hours

January

$2,660

2,800

February

3,000

4,400

March

3,950

6,400

April

4,520

8,150

May

3,230

5,400

June

5,058

8,250

Required -

1. Determine the variable-cost component using the high-low method.

2. Determine the fixed cost component using the high-low method.

Reference no: EM133115551

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