Sandy's Socks makes the world's best socks. Information for the last eight months follows: Number of Socks Month Produced Total Cost January 8,000 $7,000 February 4,500 5,000 March 7,000 6,250 April 8,600 7,750 May 3,750 5,000 June 6,000 6.250 July 3,000 4.250 August 5,000 5,750 Using the high-low method, calculate the total fixed cost per month and the variable cost per sock. (Round your "Vertable Coet par Unit" anewer to 3 decimal plocso.) Variable Cost per Unit $ 0.625 Fixed Cost $ 9,625
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First, let's calculate the total number of socks produced in the last eight months. We add up the numbers given: 8,000 + 4,500 + 7,000 + 8,600 + 3,760 + 6,000 + 5,000 = 42,860 socks. Show more…
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