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Determine the variable cost per unit and the fixed cost

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Reference no: EM132881649

Problem - High-low method - Crane Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows:

Units Produced - Total Costs

10,000 - $700,000

15,000 - 840,000

22,500 - 920,000

Required -

a. Determine the variable cost per unit and the fixed cost.

b. Based on part (a), estimate the total cost for 14,000 units of production.

Reference no: EM132881649

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