Question 2 (30 marks) A- AAA Company accumulates the following data concerning a mixed cost, using miles as the activity level. January February March April Miles Driven 10,000 8,000 9,000 7,500 Total Cost $15,625 13,500 14,400 12,500 Required: 1. Compute the variable and fixed cost elements using the high-low method 2. If it is estimated that 15,000 miles will be driven in May, what is the expected total cost for May? 3. Explain the various methods used to estimate the variable component and the fixed component of the mixed cost and state which method is the most accurate? Why? (12.5 Marks)