1. Complete the Assume that the company produce $76 per unit. Prepare a contribution format income have been assembled by Archer bits for commercial buildings: ethod; Scattergraph Analysis [LO2, L03] EXERCISE 3-7 High-Low Method; Scattergraph Ana The following data relating to un Company, a wholesaler of large, custo Units Shipped Total Shipping Expense Month January February.. March. April ..... NOVOW $1,800 $2,300 $1,700 $2,000 $2,300 $2,700 May. June.... July. $1,200 Required: 1. Using the high-low method, estimate a cost formula for shipping expense. 2. The president of the company has no confidence in the high-low method and would like you to check your results using a scattergraph. a. Prepare a scattergraph, using the data given above. Plot cost on the vertical axis and activ- ity on the horizontal axis. Use a ruler to fit a straight line to your plotted points. b. Using your scattergraph, estimate the approximate variable cost per unit shipped and the approximate fixed cost per month with the quick-and-dirty method. 3. What factors, other than the number of units shipped, are likely to affect the company's total shipping expense? Explain. "YCROIS