If the company uses 360 minutes in May, how much will the total bill be? (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.)
The phone bill for a corporation consists of both fixed and variable costs. Refer to the four-month data
below and apply the high-low method to answer the question.
A) $1697
B) $2102
C) $3799
D) $7305
C) $3799
Change in total cost ($4500 - $2630) $1870
Change in minutes (480 - 160) 320
Variable cost per minute ($1870 / 320) 5.84
Variable cost for January = 480 minutes × $5.84 per minute = $2803.20
Total fixed costs = Total mixed cost - Total variable cost
Total fixed costs = $4500 - $2803.20 = $1697
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