Question: Using the data below, compute the variable and fixed cost elements using the high-low method. Show all calculations and clearly label the variable cost component

  1. Using the data below, compute the variable and fixed cost elements using the high-low method. Show all calculations and clearly label the variable cost component and the fixed cost component of the mixed cost.

Units Produced

Total Cost

July

18,000

$32,000

August

32,000

53,000

September

36,000

59,000

October

22,000

38,000

November

40,000

65,000

December

38,000

62,000

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