Question: High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units

High-Low Method Liberty Inc. has decided to use the high-low method

High-Low Method Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced Total Costs 2,200 $ 248,040 1,100 170,280 3,300 264,880 a. Determine the variable cost per unit and the fixed cost. Variable cost per unit $ Fixed cost $ b. Based on part (a), estimate the total cost for 1,580 units of production

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