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Compute the variable and fixed cost elements

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Wandapottamus Company accumulates the following data concerning a mixed cost, using miles as the activity level.

                                          Miles Driven        Total Cost                            Miles Driven             Total Cost

January                          10,000              $15,000           March            9,000                 $14,750

February                           8,000               $14,500          April             7,500                    $13,000

Instructions

Question 1: Compute the variable and fixed cost elements using the high-low method. In a short paragraph describe how the knowledge of this information can be useful.

Reference no: EM132488628

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