Question

The controller of Norton Industries has collected the following monthly expense data for use in analyzing...

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 $2,930 350
February 3,230 400
March 3,830 550
April 4,730 640
May 3,430 550
June 5,840 750

Determine the variable cost components using the high-low method. (Round variable cost to 3 decimal places e.g. 12.250.)

Determine the fixed cost components using the high-low method. (Round answer to 0 decimal places e.g. 2,520.)

Total fixed costs

$
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