1. Given the following cost and activity observations for Smithson Company's utilities, use the high- low method to calculate Smithson's fixed costs per month. Do not round your intermediate calculations January Februa March Cost S52,200 75,000 57,000 64,000 Machine Hours 20,000 29,000 22,000 24,500 2. Given the following cost and activity observations for Taco Company's utilities, use the high-low method to calculate Taco's variable utilities costs per machine hour Ma June Jul August Cost $8,300 10,400 7,200 9.500 Machine Hours 15,000 20,000 12,000 18,000 3.If sales are $400,000, variable costs are 75% of sales, and operating income is $50,000, what is the operating leverage? 4. MULTIPLE PRODUCTS 5. Units manufactured 15000 Units Sold 12000 Variable cost of goods manufactured per unit $25 Selling price per unit $50 Variable selling and admin expenses per unit S5 Fixed Factory overhead (i.e., Fixed Manufacturing cost) Fixed selling and admin expenses $50,000 $$150,000 Prepare Variable costing income statement and disclose the variable cost of goods manufactured. Prepare Absorption costing income statement