TOTES. Case Study LAB. Version Step Calculate fixed and variable costs for 4-1 1: Identify Factory Activity Levels, with the High using the High-Low method months High e.g. machi and Low EXHIBIT 4-B: Utility Expenses for Prior Year Month: Use the data from ity Ex Prior Year Low Month: Step 2: Calculate (round to the penny) using the high-low method Februar 3315 April 450 S 3,505 Ma 2,972 June 260 653 2A90 2,89 Septembe November 250S 2617 342 2,575 Step 3: Calculate fixed cost per month (Round to nearest dollar) using the cost formula and monthly data. Write the cost formula FIRST. Step 4: Calculate n cost per year round to nearest dollar). Enter on Exhibit C on the appropriate line Step 5: Calculate the annual tal variable cost using the cost formula (Round to nearest dollar). Enter on Ethibit 4-C on the appropriate line. 28