APC Pty Ltd incurred the following costs during production of its most popular product over a six-month period. The product sells for $95.

7. APC Pty Ltd incurred the following costs during production of its most popular product over a six-month period. The product sells for $95. Month Quantity produced Production costs 450 $31,800 420 $30,300 410 $29,750 380 $28,100 430 $30,800 6 460 $32,300 Required: a.Using the high-low method, calculate (i) the variable cost per unit and (ii) total fixed costs per month. Show all the workings in your answers. (i) Variable cost per unit Units Production Costs S Highest Less: Lowest Difference Variable cost per unit = (ii) Fixed cost calculations Highest Lowest Total cost Less: Total variable cost Fixed cost per monthb. What would be the expected total cost of producing 400 units for a month? Show all the workings in your answers. (Hints: Read Example 4 and Activity 7 on your workbook) Expected Cost: Total variable cost (Variable cost per unit x New unit produced): Fixed cost Total cost