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High-Low Method The manufacturing costs of Lightfoot Industries for three months of the year follow: Total Costs Units Produced January $640,000 30,000 units February 900,000
High-Low Method
The manufacturing costs of Lightfoot Industries for three months of the year follow:
Total Costs
Units Produced
January
$640,000
30,000 units
February
900,000
40,000
March
350,000
12,500
Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost.
a. Variable cost per unit
$______________
b. Total fixed cost
$______________
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