Pharoah Company accumulates the following data concerning a mixed cost, using miles as the activity level.

		Miles Driven		Total Cost				Miles Driven		Total Cost
January		7,990		$14,155		March		8,490		$14,589
February		7,500		13,500		April		8,205		14,495

(a1)

	Your answer is correct.

Compute the variable cost per mile using the high-low method. (Round answer to 2 decimal places, e.g. 2.25.)

Variable cost per mile

$

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Attempts: 2 of 2 used

(a2)

Compute the fixed cost elements using the high-low method.

Fixed costs

$