Question: K26 H B A D E F G 1 Problem 5 2 Smith Inc has decided to use the high-low method to estimate the cost

K26 H B A D E F G 1 Problem 5 2 Smith Inc has decided to use the high-low method to estimate the cost 3 of the fixed and variable components of the total cost. The data for 4 various levels of production are as follows: 5 6 Units Produced Total Costs 7 8 6000 525000 9 8500 625000 10 10000 750000 11 12 13 14 (a) Determine the variable cost per unit and fixed cost 15 16 17 (b) Determine the equation for production based upon your findings. 18 19 20 (C) Based on part (a) estimate the cost for 12000 units 21 22 23

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