The following data relate to the Lisle Company for May and August of the current year:
May August
Maintenance hours 25,000 29,000
Maintanance cost $1,175,000 $1,247,000
May and August were the lowest and highest activity levels, and Lisle uses the high-low method to analyze cost behavior.
Which of the following statements is true?
The fixed maintenance cost is $725,000 per month.
The variable maintenance cost is $43 per hour.
The variable maintenance cost is $47 per hour.
More than one of the other answers is true.
The variable maintenance cost is $45 per hour.
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