Question One High-Low Method, HighLow Method, Cost Formulas {L0 2} During the past vear, the high and low use of three different resources fer Wilson Trucking occurred in Julv and April. The resources are truck depreciation, fuel. and truck maintenance. The number of kilometres travelled is the driver. The total costs of the three resources and the related number of truck kilometres are as follows: Resource Truck Kilometres Total Cost ($3 Truck depreciation: High 46,030,1300 2,BUD,DDU Low 32,400,1300 2,80D, Fuel: High 46,030,1300 1,lb, Low 32,400,1300 1,134, Truck maintenance: High 46,030,1300 LTQEEDU Low 32,400,1300 1,413,68 Required: Use the highlow method to answer the following questions. 1. What is the variable rate for truck depreciation? The xed cost? 2 What is the cost formula for truck depreciation? 3. What is the variable rate for fuel? The fixed cost? 4. What is the cost formula for fuel? 5 What is the variable rate for truck maintenance? The fixed cost? 6 What is the cost formula for truck maintenance? 7*. Using the three costs formulas that vou developed, predict the cost of each resource in a month with 36,UUD,UUU kilometres traveled. 8. Describe the difference between a fixed cost and a variable cost