Question 2 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 |
8,010 |
$11,395 |
March |
8,550 |
$11,705 |
| February |
7,460 |
10,506 |
April |
8,260 |
11,555 |
Compute the variable cost per mile using the high-low method. (Round variable cost per mile to 2 decimal places e.g. 1.25.)
Compute the fixed cost elements using the high-low method.