Monthly Telephone Records and Costs Using the High-Low Method
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The Mays Clinic has the following monthly telephone records and costs:
Calls................Costs
2000................2400
1500................2000
2200................2600
2500................2900
2300................2700
1700................2200
Identify the fixed and variable costs elements using the high-low method.
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Solution Summary
This solution identifies the fixed and variable cost elements using the high-low method. Includes 1 reference.
Solution Preview
This is how we would set up and derive calculations for the high-low method:
The highest number of our high calls is 2,500. We then take our lowest number ...
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