47) The Bradshaw Law Office has the following monthly telephone records and costs: Calls Costs 2.000 $2,400 1,500 2,000 2,200 2.600 2.500 2,800 2,300 2.700 1,700 2,200 Instructions Identify the fixed and variable cost elements using the high-low method. 46) Moresan Co. gathered the following information on power costs and factory machine usage for the last six months: Month January February March April May June Power Cost $24.400 30.400 29,000 22,340 19.900 16.900 Factory Machine Hours 13,900 17,600 16,800 13,200 11,600 8,600 Instructions Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. (a) What is the estimated variable portion of power costs per factory machine hour? (b) What is the estimated fixed power cost each month? (c) If it is estimated that 10,000 factory machine hours will be run in July, what is the expected total power cost for July? 45) Corris Co. accumulates the following data concerning a mixed cost, using miles as the activity level Miles Driven Total Cost January 10,000 $17,000 February 8.000 13,500 March 9,000 14,400 April 7,000 12.500 Instructions Compute the variable and fixed cost elements using the high-low method