AP-1A LO 2 Cookie Crumbs bakes the best cookies in town. Customers line up for their fresh-made deluxe chocolate chip cookies. The cost of electricity is considered a mixed cost by the company. The variable portion of the electricity cost is assumed to be dependant on the number of units produced. The following is the related cost and activity data for the past six months Month July August September October November December Volume of Cookies (number of units) 32,000 45,000 35,000 25,000 60,000 70,000 Cost of Electricity $3,700 $4,500 $3,800 $3,400 $5,200 $6,000 Required a) Using the high-low method, factor out the fixed and variable portions of the electricity cost.