Question - Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level.
|
Miles Driven
|
Total Cost
|
|
Miles Driven
|
Total Cost
|
|
January
|
8,000
|
$14,150
|
March
|
8,500
|
$15,000
|
|
February
|
7,500
|
13,500
|
April
|
8,200
|
14,490
|
Compute the variable cost per mile using the high-low method.
Compute the fixed cost elements using the high-low method.