E5-20 (Algo) Estimating Cost Behavior Using High-Low Method, Preparing Contribution Margin Income Statement [LO 5-3, 5-5) Joyce Murphy runs a courier service in downtown Seattie. She charges clients $0.50 per me driven. Joyce has determined that if she drives 2.400 miles in a month her total operating cost is $700. If she drives 3.500 miles in a month, her total operating cost is $810 Required: 1. Using the high-low method, determine Joyce's variable and fixed operating cost components 2. Complete the contribution margin income statement for Joyce's service assuming she drove 1.550 miles last month (Assume this falls within the relevant range of operations) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the high-low method, determine Joyce's variable and fixed operating cost components. (Round your cost per unit answer to 2 decimal places.) Variable Cost per Mile Driven Fixed Cost Required 2 > Required: 1. Using the high-low method, determine Joyce's variable and fixed operating cost components 2. Complete the contribution margin income statement for Joyce's service assuming she drove 1550 miles last month (Assume this falls within the relevant range of operations) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the contribution margin income statement for Joyce's service assuming she drove 1,550 miles last month. (Assume this falls within the relevant range of operations) JOYCE MURPHY Contribution Margin Income Statement For the Last Month Contribution Margin Not Operating Income