Vaughn Copy & Printing wants to predict copy machine repair expense at different levels of...
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Accounting
Vaughn Copy & Printing wants to predict copy machine repair expense at different levels of copying activity (number of copies made). The following data have been gathered:
| Copy Machine | |||||||
|---|---|---|---|---|---|---|---|
| Month | Repair Expense | Copies Made | |||||
| May | $26,430 | 292,000 | |||||
| June | 44,950 | 536,000 | |||||
| July | 85,150 | 1,026,000 | |||||
| August | 56,790 | 684,000 | |||||
| September | 31,610 | 363,000 | |||||
Determine the fixed and variable components of repair expense using the high-low method. Use copies made as the measure of activity. (Round variable component per copy to 2 decimal places, e.g. 0.15.)
| Variable Component | $enter a dollar amount per copy rounded to 2 decimal places | per copy | ||
|---|---|---|---|---|
| Fixed Component | $enter a dollar amount per month rounded to 0 decimal places | per month |
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