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Question 1 Gift Ltd accumulates the following data concerning a mixed cost using kilometres as the activity level. Month January February March April Kilometres driven

Question 1 Gift Ltd accumulates the following data concerning a mixed cost using kilometres as the activity level. Month January February March April Kilometres driven 8 000 7 500 8 500 8 200 Total cost $16 550 $15 550 $17 550 $16 950 Required: Compute the fixed and variable cost elements using the high-low method

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