(Answered) The xyz company collected the following annual information

Accounting

The XYZ Company collected the following annual information on total net sales and total operating costs:

Year	Total Net Sales	Total Operating Costs
2015	$ 21,000,000	$ 16,000,000
2016	$ 22,000,000	$ 16,400,000

IN 2017, total net sales are budgeted to be $ 24,000,000 . Using the high-low method, prepare an estimate of total operating costs for 2017, assuming total fixed costs as a percentage of total net sales are expected to be the same in 2017 as in 2015 and 2016.

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