In applying the high-low method, what is the unit variable cost? Month Miles Total Cost January...

Question

Question

In applying the high-low method, what is the unit variable cost?

Month Miles Total Cost

January 76,000 $122,000

February 52,000 110,000

March 66,000 118,000

April 92,000 160,000

Group of answer choices

$1.74

$1.25

$2.12

cannot be determined from information given.

Answer 1

Answer #1

Variable cost per unit=[Total cost at highest level-Total cost at lowest level]/(Highest level-Lowest level)

=(160,000-110,000)/(92,000-52,000)

which is equal to

=$1.25 per unit.

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Answer 2

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