Mears Production Company makes several products and sells them for an average price of $80, Mears' accountant is considering two different approaches to estimating the firm's total monthly cost function, account analysis and high-low. In both cases, she used units of production as the independent variable. For the account analysis approach, she developed the cost function by analyzing each cost item in February, when production was 1,750 units. The following are the results of that analysis Cost Item Total Cost Fixed Cost Variable Cost Direct materials $6,475 $6,475 Direct labor $9,100 $9,100 Factory overhead $8,860 $2,910 $5,950 Selling expenses $6,505 $3,880 $2,625 Administrative expenses $0 $4,300 $4,300 Total expenses $35,240 $24,150 $11,090 For the high-low method, she developed the cost function using the same data from February and data from August, when production was 2,300 units and total costs were $43,687. After developing the two cost functions, the accountant used them to make predictions for the month of December, when production was expected to be 1,850 units. REQUIRED (ROUND UNIT COSTS TO THE NEAREST CENT AND TOTAL COSTS TO THE NEAREST DOLLAR Part A (5 tries; 5 points) 1. Using account analysis, what was the accountant's estimate of total fixed costs for December? 11090 #1 IS CORRECT 2. Using account analysis, what was the accountant's estimate of variable.costs per unit for December? 13.8000 #2 IS CORRECT You are correct. Previous Tries Your receipt no. is 156-355 o Part B (5 tries; 5 points) 1. Using the high-low method, what was the accountant's estimate of total fixed costs for December? 0693 #1 IS INCORRECT