Michael Smith has been operating a dental practice for the past five years. As part of his practice he operates a dental hygiene clinic. He has found that the costs of operating the clinic vary with the patient load. Costs for the clinic over the past eight months are as follows: Month February March April May June August September i) Use the high low method to determine the variable and fixed clinic costs. Show all workings.

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To determine the variable and fixed costs using the high low method we need to find the cost at the ... View the full answer