You have the following information from the records of a restaurant:
|
Sales Revenue |
Wage Costs |
|
|
January |
$11,100 |
$5,500 |
|
February |
13,100 |
5,900 |
|
March |
14,900 |
6,100 |
|
April |
19,100 |
7,100 |
|
May |
22,000 |
9,000 |
|
June |
24,200 |
9,600 |
|
July |
26,300 |
9,700 |
|
August |
27,000 |
9,900 |
|
September |
23,900 |
8,500 |
|
October |
20,100 |
7,600 |
|
November |
18,200 |
8,000 |
|
December |
16,000 |
7,100 |
Use the high–low method to calculate total fixed cost and total variable cost for the year.