Total Cost= $70,000

X Company determined the following monthly cost formula using the high-low method for semivariable cost, Total Cost = $2.00 per machine hour + $30,000 per month Compute the variable cost component for a month with 20,000 machine hours. Do not enter dollar signs or commas. For example, enter $10,000 as 10000: X Company determined the following monthly cost formula using the high-low method for semivariable cost, Total Cost = $2.00 per machine hour + $30,000 per month Compute the fixed cost component for a month with 20,000 machine hours. Do not enter dollar signs or commas. For example, enter $10,000 as 10000