Assig O Grades for Lauren Parks X com/lgn/tak ignmentMain.do?takeAssignm Problem 4-2 Variable and Fixed Cost Analysis; High Low Method Miller Minerals Co, manufactures a product that requires the use of a considerable amount of natural gas to heat it to a desired temperature. The process requires a constant level of heat, so the furnaces are maintained at a set temperature for 24 hours a day. Although units are not continuously processed, management desires that the variable cost be charged directly to the O product and the fixed cost to the factory overhead. The following data have been collected for the year Units Cost Units Cost July.. 2,200 4,400 2,100 4,100 .2,000 3,800 1,400 3,450 1,900 3,700 1,800 4,050 2400 $4,4[2 2300 4,300 January.. February. arch. April May. June August.... ....2,200 4200 September. 1800 3,800 November Required: 1. Separate the variable and fixed elements, using the high-low method. If required, round your answers to the nearest cent and use your rounded answer in subsequent calculations. Variable cost per unit Fixed Cost 1,400 units 2.400 units 2. Determine the variable cost to be charged to the product for the vear. (Hinc: First determine the number of annual units produced.) 3. Determine the fixed cost to be charged to factory overhead for the year Type here to search 807 P 2/20