Part V The Mandarin Company has accumulated the following data over a six-month period: Machine Indirect Materials Hours Cost July..... 460 $ 2,500 August 620 3,000 September 580 October 680 3,500 November 320 2,200 December 720 3,800 3,380 $17,800 2,800 Instructions: Separate the indirect materials cost into its fixed and variable components using (a) the high-low method. (a) Machine Hours Cost High volume Low volume Difference Variable cost per machine hour: Fixed cost