Exercise 5-14

Mixed Costs Using High/Low Method

Gregory's Gems accumulated the following production and overhead cost data for the past five months:

Required:

A. Use the high/low method to calculate the variable cost per unit and fixed costs for Gregory's Gems. Round your answers to the nearest cent, if necessary.

Variable cost	$ per unit
Fixed cost	$

B. What are estimated total costs for production of 12,000 units? $

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