50.1K

Verified Solution

Link Copied!

Oak Island Amusements Center provides the following data on the costs of maintenance and the number of visitors for the last three years. Number of Visitors per Year (thousands) 1, 885 2, 065 3,595 Maintenance Costs (S000) $4,493 4,934 8, 426 51 Required: a. Use the high-low method to estimate the fixed cost of maintenance annually and the variable cost of maintenance per visitor. b. The company expects a record 2,000,000 visitors next year. What would be the estimated maintenance costs? Complete this question by entering your answers In the tabs below. Required A Required B Use the high-low method to estimate the fixed cost of maintenance annually and the variable cost of maintenance per visitor. (Enter your answers in dollars not in thousands of dollars. Round "Variable cost" answer to 2 decimal places.) Variable cost per visitor Annual fixed cost Required B 17 of 31 5:42 Oak Island Amusements Center provides the following data on the costs of maintenance and the number of visitors for the last three years. Number of Visitors per Year (thousands) 1, 885 2,065 3, 595 Maintenance Costs ($000) $4, 493 4, 934 8, 426 Required: a. Use the high-low method to estimate the fixed cost of maintenance annually and the variable cost of maintenance per visitor. b. The company expects a record 2,000,000 visitors next year. What would be the estimated maintenance costs? Complete this question by entering your answers In the tabs below. Required A Required B The company expects a record 2,000,000 visitors next year. What would be the estimated maintenance costs? (Enter your answer in dollars not in thousands of dollars.) Estimated maintenance costs

Answer & Explanation Solved by verified expert

See Answer