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Question - The Western Company presents the production and cost data for the first six months of the 2015.
Month
Units produced
Mixed costs ($)
January
15000
45000
February
18000
56000
March
22000
60000
April
16000
48000
May
30000
75000
June
26000
62000
Required - Using the high-low point method, determine the followings:
1. Estimated variable cost rate.
2. Fixed cost.
3. Also determine the cost function based on data given above.
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