! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced Total Costs 1 $ 4,660 2 560 3,960 3 960 4,360 4 1,360 4,960 5 1,760 4,060 6 2,160 4,260 7 2,560 8,760 8 2,960 16,160 9 3,360 4,960 10 3,760 11,992 Exercise 21-5 (Algo) Measuring costs using high-low method LO P1 (1) Use the high-low method to estimate the fixed and variable components of total costs. (2) Estimate total costs if 2,440 units are produced. High-Low method - Calculation of variable cost per unit Total cost at the highest volume Variable costs at highest volume Highest volume Variable cost per unit Total variable costs at highest volume Total fixed costs Total cost at the lowest volume High-Low method - Calculation of fixed costs 0