2) XYZ Company uses the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: (10 points) Units Produced 8,000 10,000 15,000 Total Costs $340,000 420,000 550,000 Instructions: a) Calculate the variable cost per unit and the total fixed cost. b) Based on your answer on part (a), estimate the total cost of 20,000 units of production