Data Table 1 Month January February March April May June July August September October November December Totals Labor Hours 1,262 962 1,318 1,280 942 1,188 1,114 1,006 1,344 1,196 760 792 13,164 Machine Hours 1,752 $ 1,362 $ 2,238 $ 2,205 $ 2,013 $ 2,205 $ 1,845 $ 1,773 $ 1,641 $ 1,971 $ 1,752 $ 2,229 $ 22,986 $ OH Costs 227,304 195,758 229,883 236,335 220,621 225,848 212,957 210,047 223,754 227,287 200,962 204,559 2,615,313 Units Mfg'd 5,256 4,086 6,714 6,615 5,652 6,615 5,535 5,319 4,923 5,913 4,560 4,752 65,940 U Max Min A VC FC Use the blue area to show your high-low calculations Use Data Table 1 to answer the following Questions The following assumptions apply unless an alternative is specifically given in a question i) The Sales Price per unit ii) Direct materials and direct labor costs per unit. iii) Variable General and Administrative costs per unit. iv) Fixed General and Administrative costs per month. v) Marginal tax rate on Income $ $ $ 74.00 19.00 14.00 350,000 21% Part 1. Answer these questions by applying the high-low method. Assume that the Overhead costs are estimated using labor hours. What is the estimated variable cost per labor hour? Q1 What is the estimated monthly fixed overhead cost? Q2 Forecast monthly overhead costs for a month when labor hours are equal to 1,100 Q3 What is the average number of labor hours per unit? Q4 What is your estimate of the variable overhead cost per unit? Q5 What is your estimate of the contribution margin per unit? Q6