Browning Company owns two luxury automobiles that are used by employees on company business. Mileage and expenses, excluding depreciation, by quarters for the most recent year are presented below:

Quarter

Mileage

Expenses

First

3,000

Php 550

Second

3,500

560

Third

2,000

450

Fourth

3,500

600

12,000

Php2,160

Required: Determine the variable cost per mile (nearest tenth of a cent) and the fixed costs per quarter, using the Hi-Low method.

8. Browning Company owns two luxury automobiles that are used by employees on company business. Mileage and expenses, excluding depreciation, by quarters for the most recent year are presented below: Quarter Mileage Expenses First 3,000 Php 550 Second 3,5001 560 Third 2,0001 450 Fourth 3,500 600 12,000 Php2,160 Required: Determine the variable cost per mile (nearest tenth of a cent) and the fixed costs per quarter, using the Hi-Low method