Determine variable-and fixed-cost elements using the high-low method
Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level.
Miles Driven Total 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- and fixed-cost elements using the high-low method.