Brief Exercise 3-26 Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Refer to the information for Speedy Pete's above. Speedy Pete's controller wants to calculate the fixed and variable costs associated with its cutting-edge delivery service. Required: Using the high-low method, calculate the fixed cost of deliveries, calculate the variable rate per delivery, and construct the cost formula for total delivery cost. c. Use the information for Brief Exercise 3-26 in your textbook on page 125 to answer the following questions: (1) Which month represents the high point? (2) Which month represents the low point? (3) Using the high-low method, compute the variable rate. (4) Using the high- low method, compute the fixed cost per month. (5) Using your answers thus far, write the cost formula for delivery cost. (6) Assume that 2.480 deliveries are budgeted for next month--using the high-low method formula you developed, forecast the amount of delivery cost for next month. Use the following information for Brief Exercises 3-26 through 3-29: Speedy Pete's is a small start-up company that delivers high-end coffee drinks to large metropolitan office buildings via a cutting-edge motorized coffee cart to compete with other premium coffee shops. Data for the past 8 months were collected as follows: Month May June July August September October November December Delivery Cost $63,450 67,120 66,990 68,020 73,400 72,850 75.450 73,300 Number of Deliveries 1,800 2,010 2,175 2,200 2,550 2,630 2,800 2,725 Brief Exercise 3-26 Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Refer to the information for Speedy Pere's above. Speedy Pere's controller wants to calculate fixed and variable costs associated with its cutting-edge delivery service. Required: Using the high-low method, calculate the fixed cost of deliveries, calculate the variable rate Helivery, and construct the cost formula for total delivery cost