2. Majan company shared the following data for a number of
recent months:
Product Returns Warranty Cost
April
24
$2,972
May.
23
$2,928
June
27
$3,141
July
39
$3,752
August.
36
$3,569
September
35
$3,551
October
26
$3,071
November
37
$3,636
Required:
Estimate the variable cost per product return and the fixed cost
per month using high-low method (3 marks)