Question: Using the following data, apply the high-low method of cost analysis to Hedwig cost data group: Volume Hedwig Scabbers Crookshanks 4,000 $8,500 $5,000 $14,000 6,000
Using the following data, apply the high-low method of cost analysis to Hedwig cost data group:
| Volume | Hedwig | Scabbers | Crookshanks |
| 4,000 | $8,500 | $5,000 | $14,000 |
| 6,000 | $13,000 | $11,000 | $14,000 |
| 13,000 | $20,000 | $19,000 | $14,000 |
| 30,000 | $28,000 | $37,500 | $14,000 |
a) Estimate the variable cost and the fixed cost per month using the high-low method for HEDWIG. Round off all calculations to the nearest whole cent.
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