Liberty Inc. has decided to use the high-low method to estimate costs. The data for various levels of production are as follows: Units Produced Total Costs 100,000 $1,800,000 180,000 2,800,000 300,000 4,300,000 a. Determine the variable cost per unit and the fixed cost. Round variable cost per unit to the nearest cent. Variable cost per unit $fill in the blank 1 12.5 Fixed cost $fill in the blank 2 b. Based on part (a), estimate the total cost for 260,000 units of production. $fill in the blank 3