Felix & Company reports the following information. Period 1 Units Produced Total Costs 0 $ 2,020 2 200 2,520 400 3,029 600 3,520 5 800 4,020 6 1,000 4,520 1,200 5,020 1,400 5,520 9 1,600 6,020 10 1,800 6,520 Exercise 5-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 2,020 units are produced. High-Low method - Calculation of variable cost per unit Total cost at the highest volume Variable costs at highest volume Highest volume Variable cost par unit Total variable costs at highest volume Total fixed costs Total cost at the lowest volume Variable costs at lowest volume Lowest volume Variable cost per unit Total variable costs at lowest volume Total fixed costs High-Low method - Calculation of fixed costs (2) Estimated cost if 2,020 units are produced: Estimated total cost