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Determine the variable cost components

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Question - 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

$2,600

310

February

2,900

360

March

3,500

510

April

4,400

680

May

3,100

510

June

5,590

710

(a) Determine the variable cost components using the high-low method.

Reference no: EM131733607

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