Part 1: High Low Calculations ----- Use the data in the following table to answer questions regarding the production of a product Xnew. Month January February March April May June July August September October November December Labor Hours 4,738 $ 4.953 $ 4,883 $ 5,677 $ 4,465 $ 5,505 $ 4.135 $ 5,743 $ 5,084 $ 5,109 $ 3,697 $ 3,975 $ OH Costs 399,684 408,965 403,815 457,656 390,263 451,085 363,054 459,855 423,221 412,494 336,453 358,638 Q1. Use the high low method to estimate the amount of variable overhead per labor hour. Place your answer in highlighted cell. Q2. Use the high low method to estimate the amount of fixed overhead per month. Place your answer in highlighted cell. $ $ 200.00 25.00 Additional data about Xnew us given below: Sales price per unit of Xnew Direct Labor costs per unit of Xnew based on 1/2 hour per unit Direct Material costs per unit of Xnew Variable Sales and Administrative costs per unit of Xnew Fixed Sales and Administrative costs traceable to Xnew per month $ $ 40.00 50.00 $ 100,000 Q3. What is the estimated contribution margin of a unit of Xnew? Q4. What is the monthly break-even number of units? Q5. What is the expected profit if 8.000 units are produced and sold? (Before taxes) 26. If the tax rate is 20% how many units need to be sold in a month to earn $310,000 after tax? Q7. If the cost of materials increases by $1.50 per unit what is the new break-even point? Q8. What is the expected total profit if discounting the price by 8% increases expected sales from 8,000 to 9,000 units? (on a before tax basis)