Current Attempt in Progress

Oriole, Inc., has collected the following information on its cost of electricity:

		Machine Hours		Total Electricity Costs
January		500		$250
February		540		$280
March		340		$200
April		470		$220
May		680		$260
June		710		$330
July		330		$160
August		500		$280
September		240		$128
October		770		$330
November		870		$380
December		600		$320

(a)

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Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.)

Variable cost

$ per machine hour

(b)

Compute the total fixed cost of electricity. (Round answer to 2 decimal places, e.g. 52.75.)

Fixed cost

$