Fulton and Sons, Inc. presently leases a copy machine under an agreement that calls for a fixed fee each month and a charge for each copy made. Fulton made 7,000 copies and paid a total of $360 in March; in May, the firm paid $280 for 5,000 copies. The company uses the high-low method to analyze costs.Fulton's variable cost per copy is:
A. $0.053.
B. $0.040.
C. $0.051.
D. $0.056.
E. None of the answers is correct.
Answer: B
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