Required: Use the High-Low Method and MIN(), and MAX() functions to answer the following questions: What...

Transcribed Image Text:

Required: Use the High-Low Method and MIN(), and MAX() functions to answer the following questions: What is the highest cost? What is the highest number of repairs? What is the lowest cost? What is the lowest number of repairs? Compute the Variable Cost per repair. Compute the Fixed Cost. Repeat this process with information from two years prior. Cost of Month Repairs Repairs January 391 $ 6,366 February 439 $ 6,737 March 359 $ 5,503 April 261 $ 3,886 May 242 $ 3,576 June 342 $ 5,327 July 156 $ 2,941 August 399 $ 6,819 September 398 $ 5,708 October 151 $ 2,919 November 319 $ 4,947 December 189 $ 3,546 212 $ 3,694 Required: Use the High-Low Method and MIN(), and MAX() functions to answer the following questions: What is the highest cost? What is the highest number of repairs? What is the lowest cost? What is the lowest number of repairs? Compute the Variable Cost per repair. Compute the Fixed Cost. Repeat this process with information from two years prior. Cost of Month Repairs Repairs January 391 $ 6,366 February 439 $ 6,737 March 359 $ 5,503 April 261 $ 3,886 May 242 $ 3,576 June 342 $ 5,327 July 156 $ 2,941 August 399 $ 6,819 September 398 $ 5,708 October 151 $ 2,919 November 319 $ 4,947 December 189 $ 3,546 212 $ 3,694