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Required information Use the following information for the Exercises below. (Algo) Skip to...

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Accounting

Required information

Use the following information for the Exercises below. $($ Algo $)$

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$[$ The following information applies to the questions displayed below. $]$

Felix & Company reports the following information.

Period Units Produced Total Costs

$1 0$ $ $2, 515$

$2 400 3, 235$

$3 800 3, 955$

$4 1, 200 4, 675$

$5 1, 600 5, 395$

$6 2, 000 6, 115$

$7 2, 400 6, 835$

$8 2, 800 7, 555$

$9 3, 200 8, 275$

$10 3, 600 8, 995$

Exercise $18 - 5 ($ Algo $)$ Measuring costs using high $-$ low method LO P $1$

$(1)$ Use the high $-$ low method to estimate the fixed and variable components of total costs.

$(2)$ Estimate total costs if $3, 000$ units are produced.

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