! 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 1 2 3 4 5 6 7 8 9 10 OoWN Units Produced Total Costs 0 $ 4,540 440 3,840 840 4,240 1,240 4,840 1,640 3,940 2,040 4,140 2,440 8,640 2,840 16,040 3,240 4,840 3,640 10,546 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 1,180 units are produced. High-Low method - Calculation of variable cost per unit 0 High-Low method - Calculation of fixed costs 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 Variable costs at lowest volume Lowest volume Variable cost per unit Total variable costs at lowest volume Total fixed costs (2) Estimated cost if 1,180 units are produced: Estimated total cost