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High-Low Cost Estimation and Profit Planning Comparative 2007 and 2008 income statements for Dakota Products Inc. follow: DAKOTA PRODUCTS INC. Comparative income Statements For Years

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High-Low Cost Estimation and Profit Planning Comparative 2007 and 2008 income statements for Dakota Products Inc. follow: DAKOTA PRODUCTS INC. Comparative income Statements For Years Ending December 31, 2007 and 2008 2008 2007 8,000 5,000 Unit sales Sales $75,000 $120,000 revenue (82,000) (103,000) Expenses Profit (loss) $(7,000) $17,000

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