Question: Continental Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation

Continental Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Continental Railroad is a measure of railroad operating activity, termed "gross-ton miles," which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January $703,000 268,000 February 783,800 299,000 March 553,900 194,000 April 751,400 290,000 May 630,200 233,000 June 308,000 315,000 Determine the variable cost per gross ton mile and the total fixed cost. Variable cost (Round to two decimal places.) Total fixed cost per gross ton mile

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