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E5-20 (Algo) Estimating Cost Behavior Using High-Low Method, Preparing Contribution Margin Income Statement [LO 5-3,...

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E5-20 (Algo) Estimating Cost Behavior Using High-Low Method, Preparing Contribution Margin Income Statement [LO 5-3, 5-5] Anita Kaur runs a courier service in downtown Seattle. She charges clients $0.60 per nile driven. Anita has determined that if she drives 2,250 miles in a month, her total operating cost is $625. If she drives 3,350 miles in a month, her total operating cost is $845. Required: 1. Using the high-low method, determine Anita's variable and fixed operating cost components. 2. Complete the contribution margin income statement for Anita's service assuming she drove 1,400 miles last month. (Assume this falls within the relevant range of operations). Complete this question by entering your answers in the tabs below. Using the high-low method, determine Anita's variable and fixed operating cost components Note: Round your cost per mile answer to 2 decimal places

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