X Company uses the high-low method to predict maintenance costs each month, with maintenance hours as the activity measure. The following past monthly cost and activity information is available:
Month |
Cost |
Hours |
May |
$6,712 |
1,450 |
June |
$11,553 |
3,800 |
July |
$14,231 |
5,100 |
August |
$11,965 |
4,000 |
If maintenance hours in October are expected to be $3,550, what are total fixed maintenance costs expected to be (round unit costs to the nearest cent)?