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E5-20 (Algo) Estimating Cost Behavior Using High-Low Method, Preparing Contribution Margin Income Statement [LO 5-3, 5-5) Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.52 per mile driven. Joyce has determined that if she drives 2,050 miles in a month, her total operating cost is $525. If she drives 3,150 miles in a month, her total operating cost is $657. Required: 1. Using the high-low method, determine Joyce's variable and fixed operating cost components. 2. Complete the contribution margin income statement for Joyce's service assuming she drove 1,200 miles last month. (Assume this falls within the relevant range of operations). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the high-low method, determine Joyce's variable and fixed operating cost components. (Round your cost per unit answer to 2 decimal places) Variable Cost per Mile Driven Fixed Cost Ford Required 2 CH Required: 1. Using the high-low method, determine Joyce's variable and fixed operating cost components. 2. Complete the contribution margin income statement for Joyce's service assuming she drove 1.200 miles last month. (Assume this falls within the relevant range of operations). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the contribution margin income statement for Joyce's service assuming she drove 1,200 miles last month. (Assume this falls within the relevant range of operations). JOYCE MURPHY Contribution Margin Income Statement For the Last Month Contribution Margin Net Operating Income