Understanding of the behavior of its inspection costs

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Reference no: EM131067425

The management of Harrigill Corporation would like to have a better understanding of the behavior of its inspection costs. The company has provided the following data:


Direct Labor-Hours

Inspection Cost

  March

5,650

$ 54,600

  April

5,641

$ 54,473

  May

5,679

$ 54,575

  June

5,673

$ 54,461

  July

5,633

$ 54,246

  August

5,593

$ 54,028

  September

5,690

$ 54,979

  October

5,639

$ 54,484

  November

5,256

$ 52,493


Management believes that inspection cost is a mixed cost that depends on direct labor-hours.


Required:

Estimate the variable cost per direct labor-hour and the fixed cost per month using the high-low method. (Do not round intermediate calculations. Round your final answers to two decimal places.)



  Variable cost per direct labor-hour

$   

  Fixed cost per month

$   


Reference no: EM131067425

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