QS 18-3 Cost behavior estimation-high-low method LO P1 The following information is available for a company's maintenance cost over the last seven months. Maintenance Hours Month June July August September October November December 16 Maintenance Cost $ 3,970 5,050 4,330 4,870 5,950 6,490 3,250 Using the high-low method, estimate both the fixed and variable components of its maintenance cost. High-Low method - Calculation of variable cost per maintenance hour Total cost at the high point Variable costs at the high point: Volume at the high point: Variable cost per maintenance hour Total variable costs at the high point Total fixed costs Total cost at the low point Variable costs at the low point: Volume at the low point: Variable cost per maintenance hour Total variable costs at the low point Total fixed costs