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The following data have been extracted from the records of Puzzle Inc.: February August Production level, in units 10,000 20,000 Variable costs $ 24,000 $

The following data have been extracted from the records of Puzzle Inc.: February August Production level, in units 10,000 20,000 Variable costs $ 24,000 $ ? Fixed costs ? 36,000 Mixed costs 20,000 ? Total costs $ 80,000 $ 118,000 Required: Calculate the missing costs. Calculate the cost formula for mixed cost using the highlow method. Calculate the total cost that would be incurred for the production of 16,000 units. Identify the two key cost behavior assumptions made in the calculation of your answer to part c.

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