Elm uses the high-low method of estimating costs. Elm had total costs of $264,500 at its lowest level of activity, when 7,100 units were sold. When, at its highest level of activity, sales equaled 12,700 units, total costs were $398,900. Elm would estimate variable cost per unit as:

Elm uses the high-low method of estimating costs. Elm had total costs of $264,500 at its lowest level of activity, when 7,100 units were sold. When, at its highest level of activity, sales equaled 12,700 units, total costs were $398,900. Elm would estimate variable cost per unit as: Multiple Choice $37.25 O $31.41 $24.00 $33.51