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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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