QS $18-4($Algo$)$ Measuring costs using high$-$low method LO P$1$

QS 18-4 (Algo) Measuring costs using high-low method LO P1 The following information is available for a company's maintenance cost over the last seven months. Month June July August September October November December Units Produced 110 170 130 160 220 250 70 Maintenance Cost $ 4,240 5,500 4,660 5,290 6,550 7,180 3,400 Using the high-low method, estimate both the fixedand variable components of its maintenance cost. High-Low method - Calculation of variable cost per unit produced Total cost at the highest volume Variable costs at highest volume: Highest volume Variable cost per unit produced Total variable costs at highest volume Total fixed costs Total cost at the lowest volume Variable costs at lowest volume: Lowest volume Variable cost per unit produced Total variable costs at lowest volume Total fixed costs