QUESTION 21 The Jefferson Picket Marketing Center has the following monthly telephone records and costs Calls Costs JANUARY 2,000 $2,400 FEBRUARY 1,500 2,000 MARCH 2.200 2,600 APRIL 2,500 2,800 MAY 2,300 2,700 JUNE 1.700 2.200 Instructions (a) Using the high-low method, determine the variable telephone cost element and fixed utility cost element 17 points (b) Test the accuracy of your answers in (a) for each of the estimated number of phone calls, January through June Comment on your model is the model above or below the estimate? 17 points (c) i What is 1 advantage and 1 disadvantage of the High-Low Method? 9 points ii. Is there an alternative method that will provide better results than high-low? Discuss 9 points