1.15 2 points Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. eBook Hint References Period Units Produced Total Costs 10 1234567820 0 400 $ 2,600 3,280 800 3,960 1,200 4,640 1,600 5,320 2,000 6,000 2,400 6,680 2,800 7,360 3,200 8,040 3,600 8,720 Exercise 18-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 3,000 units are produced. High-Low method - Calculation of variable cost per unit Cost at high point minus cost at low point $ 6,120 Variable cost per unit = $ 1.70 Volume at high point minus volume at low point 3,600 High-Low method - Calculation of fixed costs Total cost at the high point Variable costs at the high point Volume at the high point Variable cost per unit Total variable costs at the high point Total fixed costs $ 1.70 Total cost at the low point Variable costs at the low point Volume at the low point Variable cost per unit Total variable costs at the low point Total fixed costs (2) Estimated cost if 3,000 units are produced: Estimated total cost