Using the high-low method, the total fixed costs are ________. (Round intermediate calculations to two decimal places, and the final calculation to the nearest dollar.)
Bernard Company shows the following manufacturing costs for the first six months of the year:
D) $15,576
Variable cost per unit = Change in total cost / Change in volume of activity
Variable cost per unit = (Highest cost - Lowest cost) / (Highest volume - Lowest volume)
Change in total cost = $45,900- $31,000 = $14,900
Change in units = 2850 - 1450 = 1400
Variable cost per unit = $10.64
Total fixed costs = Total mixed cost - (Variable Cost per Unit x Number of Units)
Total fixed costs = $45,900 - ($10.64 x 2850)
Total fixed cost = $15,576
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