Question: Flint Theater Company is interested in estimating fixed and variable costs. The following data are available: Month Cost No. of Tickets Sold January February March

Flint Theater Company is interested in estimating fixed and variable costs.

The following data are available: Month Cost No. of Tickets Sold January

Flint Theater Company is interested in estimating fixed and variable costs. The following data are available: Month Cost No. of Tickets Sold January February March April $157,620 187.920 212.120 214.320 207.120 192.720 May June 19.900 22.100 25,900 27.800 28.300 23.400 34,100 21.600 23.100 28.100 23.400 31.300 July August September October November December 231.460 162.160 174.060 190.260 179.560 195,060 (a) Your Answer Correct Answer Use the high-low method to estimate fixed cost per month and variable costs per ticket sold [i.e., estimate a and b in the equation Cost = a + (bx # of tickets) using the high-low method]: (Round variable cost per ticket to 2 decimal places, eg. 15.25 and other answer to O decimal places, eg. 125.) Cost $ $ x # of tickets sold

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