Calculate the variable and fixed cost elements

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Problem

Corris Co. accumulates the following data concerning a mixed cost, using miles as the activity level.


Miles Driven

Total Cost

January

10,000

$17,000

February

8,000

13,500

March

9,000

14,400

April

7,000

12,500

Compute the variable and fixed cost elements using the high-low method. (Round variable cost to 2 decimal places, e.g. 15.25.)

Reference no: EM131800241

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