Part C - (8 marks) Unified Parcel, Inc., operates a local parcel delivery service. The company keeps detailed records relating to operating costs of trucks and has found that if a truck is driven 110,000 miles per year the operating cost is 7.5 cents per mile. This cost increases to 8.75 cents per mile if a truck is driven 60,000 miles per year. Required (show all calculations); Estimate the cost formula for truck operating costs using the high-low method. . Calculate the variable cost per mile . Estimate the Fixed cost . The cost formula [Hint: use the table format below to determine the high-low method. Enable the HTML Editor to write your answer Activity Cost High Low ChangeQuestion 26 (12 points) ) Listen Part E - (12 marks) Montero Corporation, a merchandising company, has provided the following budget data: Purchases Sales January $42,000 $72,000 February 48,000 66,000 March 36,000 60,000 April 54,000 78,000 May 60,000 66,000 Collections from customers are normally 70% in the month of sale, 20% in the month following the sale, and 9% in the second month following the sale. The balance is expected to be uncollectible. Montero pays for purchases in the month following the purchase. Cash disbursements for expenses other than merchandise purchases are expected to be $14,400 for May. Montero's cash balance at May 1 was $22,000. Required (show all calculations); a. Compute the expected cash collections during May. b. Compute the expected cash balance at May 31. [Hint: use the table format below for part a & b - Enable the HTML Editor to write your answer]