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 2,400 $ 167,920 4,030 189,280 1,430 121,680 a. Determine the variable cost per unit and the fixed cost. Variable cost per unit $fill in the blank 1 0.4 Fixed cost $fill in the blank 2 b. Based on

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
2,400		$ 167,920
4,030		189,280
1,430		121,680

a. Determine the variable cost per unit and the fixed cost.

Variable cost per unit	$fill in the blank 1
Fixed cost	$fill in the blank 2

b. Based on part (a), estimate the total cost for 1,970 units of production. $fill in the blank 3