M21-5 Analyzing Mixed Costs Using High-Low Method Wendy’s Widgits builds the world’s best widgits. The information for the last eight months of Wendy’s operations follows. Month Number of Widgits Produced Total Cost January 4,000 $7,000 February 2,250 5,000 March 3,500 6,250 April 4,300 7,750 May 1,875 5,000 June 3,000 6,250 July 1,500 4,250 August 2,500 5,750 Using the high-low method, calculate the fixed cost per month and the variable cost per widgit produced.