Question: M5-10 (Algo) Estimating Cost Behavior Using High-Low Method (LO 5-3) Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments

 M5-10 (Algo) Estimating Cost Behavior Using High-Low Method (LO 5-3) Sherri's

M5-10 (Algo) Estimating Cost Behavior Using High-Low Method (LO 5-3) Sherri's Tan-O-Rama is a local tanning salon. The following information reflects its number of appointments and total costs for the first half of the year: Month January February March April Number of Appointments 300 250 Total Cost $6,150 5,500 6,600 5,500 6,850 6,300 325 200 425 May June 275 Using the high-low method, calculate the total fixed cost per month and the variable cost per tanning appointment. (Round your "Variable Cost per Unit" answer to 2 decimal places and "Fixed Cost" answer to the nearest dollar amount.) 2.50 Variable Cost per Unit Fixed Cost

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