Compute the fixed cost elements using the high-low method.

Fixed costs

$

Ivanhoe Company accumulates the following data concerning a mixed cost, using miles as the activity level. Total Cost Miles Driven Total Cost Miles Driven 7,990 7,500 January February $14,120 13,498 March April 8,500 8,195 $14,948 14,485 Your answer is correct. Compute the variable cost per mile using the high-low method. (Round answer to 2 decimal places, e.g. 2.25.) Variable cost per mile $ 1.45 e Textbook and Media Your answer is incorrect. Compute the fixed cost elements using the high-low method. Fixed costs $ 1.5 Textbook and Media