Question: Problem 24: High Low Method Mario Corporation has decided to use high-low method to estimate the total cost and the fixed and variable cost components

Problem 24: High Low Method Mario Corporation has decided to use high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various level of production are as follows: Units Produced Total Costs 1 10,000 4,290,000 52,650 3,412,500 73, 125 4,095,000 117,650 4,485,000 68,250 3,770,000 Required: 1. Determine the variable cost per unit and the total fixed cost. 2. Based on the cost equation, estimate the total cost for 80,000 units of production. th a cost formula that

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