Question: Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smithson's fixed costs per month. Round variable cost

Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smithson's fixed costs per month. Round variable cost per unit to two decimal places in your calculations.

a. $2,530
b. $22,800
c. $1,600
d. $50,600

Machine Hours Cost January $52,200 20,000 75,000 February 29,000 March 57,000 22,000 April 64,000 24,500

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