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The Hilo Truckin' Company collected the following information on miles driven and related vehicle costs for 2019. Month Miles driven Vehicle Cost January 43,000 $120,000

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The Hilo Truckin' Company collected the following information on miles driven and related vehicle costs for 2019. Month Miles driven Vehicle Cost January 43,000 $120,000 February 60,000 172.000 March 35,000 100,000 April 20,000 71,000 May 66,000 210,000 June 40,000 110,000 July 30,000 92.000 August 28,000 87.000 September 15,000 57.000 October 17.000 36,000 November 50,000 133.000 August 28,000 87.000 September 15,000 57,000 October 17.000 36,000 November 50,000 133,000 December 55,000 143,000 Use the above information and the high-low method to answer the following questions. 1. Calculate the variable cost per mile. 2. Calculate the total fixed cost. 3. If Hilo estimates driving 25,000 miles in April of 2020, what is the total estimated vehicle cost for that month? 4. The estimated cost formula can be used within what relevant range

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