Lindani cc is preparing its budget for the year to 31 December 2017. The following...
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Lindani cc is preparing its budget for the year to 31 December 2017. The following information was prepared: Machine hours Fuel Expense Month "000 R '000 January 20,40 R 384,00 February 18,00 R 372,00 March 20,40 R 372,00 April 23,40 R 354,00 May 25,20 R 300,00 June 19,20 R 318,00 July 15,60 R 300,00 August 15,60 R 300,00 September 18,60 R 318,00 October 21,00 R 330,00 November 25,80 R 348,00 December 28,80 R 408,00 Total 252,00 R 4 104,00 Average 21,00 R 342,00 Required: Estimate the fixed and variable components of fuel expense using the above data by applying the: 2.1 High-low method (9 marks)
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