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Estimate both the fixed and variable components

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Question - The following information is available for a company's maintenance cost over the last seven months.

Month

Maintenance Hours

Maintenance Cost

June

11

$3,970

July

17

5,050

August

13

4,330

September

16

4,870

October

22

5,950

November

25

6,490

December

7

3,250

Using the high-low method, estimate both the fixed and variable components of its maintenance cost.

Reference no: EM132986781

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