M$5-14($Static$)$ Estimating Cost Behavior Using High$-$Low Method $[$LO $5-3]$

Havana Hats makes the world$$s best hats. Information for the last eight months follows:

MonthNumber of Hats ProducedTotal CostJanuary$8,000$$ $7,000$February$4,5005,000$March$7,0006,250$April$8,6007,750$May$3,7505,000$June$6,0006,250$July$3,0004,250$August$5,0005,750$

Required:

Using the high$-$low method, calculate the variable cost per hat and total fixed cost per month.

Note: Round your "Variable cost per unit"$$answer to $3$ decimal places.