QUESTION 27 Davis Corporation has provided the following production and total cost data for two levels of monthly production volume. The company produces a single product. Direct materials Direct labor Manufacturing overhea.. 1,000 units $44,200 $37,300 $48,500 2,000 units $88,400 $74,600 $62,200 Using the Hi-Low Method, the best estimate of the total monthly fixed manufacturing cost is: o 1. $130,000 O 2. $177,600 3.$34,800 4. $225,200 QUESTION 28 The high and low points used in the high-low method tend to be unusual and therefore the cost formula may not accurately represent all of the data True O False