Brief Exercise 157

Dollywood Corporation accumulates the following data concerning a mixed cost, using miles as the activity level.

		Miles Driven			Total Cost
January		10,000			$16,500
February		8,000			$14,500
March		9,000			$12,500
April		7,000			$12,000

Compute the variable and fixed cost elements using the high-low method. (Round variable cost answer to 2 decimal places, e.g. 52.75.)

Variable Cost		$	per mile
Fixed Cost		$