High-Low Method, Cost Formulas During the past year, the high and low use of three different resources for Fly High Airlines occurred in July and April. The resources are airplane depreciation, fuel, and airplane maintenance. The number of airplane flight hours is the driver. The total costs of the three resources and the related number of airplane flight hours are as follows: Resource Airplane depreciation: Airplane Flight Hours Total Cost High Low 44,000 $18,800,000 28,000 $18,800,000 Fuel: High 44,000 445,896,000 Low 28,000 283,752,000 Airplane maintenance High 44,000 16,592,000 Low 28,000 12,088,000 Required: Use the high-low method to answer the following questions. If an answer is zero, enter " It required, round your answers to nearest dollar 1. What the variable rate for airplane depreciation 1. What is the variable rate for airplane depreciation? 0 per flight hour. What is the fixed cost for airplane depreciation? 18,000,000 2. What is the cost formula for airplane depreciation? Total cost of airplane depreciation s 18,000,000 3. What is the variable rate for fuel? 10,134 per flight hour What is the fixed cost for fuel? 4. What is the cost formula for fuel? Total cost of fuel- 10,134 x Number of airplane flight hours 5. What is the variable rate for airplane maintenance? 282 per fight hour What is the fixed cost for airplane maintenance? 6. What is the cost formula for airplane maintenance? 4. What is the cost formula for fuel? Total cost of fuel-s 10,134 x Number of airplane flight hours 5. What is the variable rate for airplane maintenance? 282 per fight hour What is the fixed cost for airplane maintenance? 6. What is the cost formula for airplane maintenance? Total cost of airplane maintenance +1 s 282 x Number of airplane flight hours 7. Using the three cost formulas that you developed, predict the cost of each resource in a month with 36,000 airplane flight hours. (Note: Do not round intermediate calculations.) Total cost of airplane depreciation Total cost of fuel Total cost of airplane maintenance High-Low Method, Cost Formulas During the past year, the high and low use of three different resources for Fly High Airlines occurred in July and April. The resources are airplane depreciation, fuel, and airplane maintenance. The of airplane fight hours is the driver The total costs of the three resources and the related number of airplane flight hours are as follows: Resource Airplane depreciation High Pu Low Airplane Flight Hours Total Cost 44,000 $18,800,000 28,000 $18,800,000 Migh LOW 44,000 28,000 445,896,000 283,753,000 Airplane maintananc 44,000 16,592,000 26,000 12,058,000 LOW Required Us the Raghw method to answer the folowing questions. If an answer is rers, enter "0". If inquired, round your answers f nearest dollar 1. What is the vanable rate for airplane deprecation 9 per flight hour am 1 What is the fixed cast for airplane depreciation? 18,000,000 2. What is the cost formula for airplane depreciation? Total cost of airplane depreciation 3. What is the variable rate for fu 10,134 per fight hour What is the fixed cast for fu 18,000,000 4. What is the cost formula for fuel Total cost of fuel-S 10,134 Number of airplane flight hours S. What is the variable rate for airplane maintenance? 282 per flight hour What is the feed st. fe antane maintenance? 6. What the cmula for airplane Thtal st + Humber of airplane flight ho 3. What is the variable rate for fuel? 10,134 per fight hour What is the fixed cost for fuel? 4. What is the cost formula for fuel? Total cost of fuel 10,134 x Number of airplane flight hours 5. What is the variable rate for airplane maintenance? 282 per flight hour What is the fixed cost for airplane maintenance? 6. What is the cost formula for airplane maintenance? Total cost of airplane maintenance +19 282 1 Number of airplane flight hours 7. Using the three cost formulas that you developed, predict the cost of each resource in a month with 36,000 airplane Night hours. (Note: Do not round intermediate calculation) Total cast of airplane depreciation Total cost of fuel Total cost of airplane maintenance