Exercise 7 - Mixed costs using high/low method Leo's Pies produce meat pies for distribution throughout Hobart. The company is concerned at the growth in its gas costs and wishes to predict it better in future priods. Following are production an gas cost data for the past six years. Years Production (units) Gas cost ($) 2012 40,000 20,000 2013 48,000 24,500 2014 56,000 24,000 2015 50,000 22,500 2016 44,000 21,500 2017 36,000 20,500 Required (a)Use the high/low method to calculate the variable cost per unit and fixed costs for gas. (b)lf Leo' s Pies expects to produce 41,000 pies next year, what would be the predicted gas cost