Reference no: EM132620201

Shamrock 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                     $16,840                    271,000

June                      $29,340                   541,000

July                      $55,290                  1,040,000

August                 $42,940                    813,000

Sept                     $21,540                   375,000

Question 1: 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.)