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The Hilo Truckin' Company collected the following information on miles driven and related vehicle costs...

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Accounting

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The Hilo Truckin' Company collected the following information on miles driven and related vehicle costs for 2019. Month Miles driven Vehicle Cost January 43.000 $60,000 February 60,000 86,000 March 35,000 50,000 April 20.000 35,500 May 66,000 105,000 June 40,000 55,000 July 30,000 46,000 August 28,000 43,500 September 15,000 28,500 October 17,000 18,000 November 50,000 66,500 December 55,000 71,500 Use the above information and the high-low method to answer the following questions. 1. Calculate the variable cost per mile. 2. Calculate the total fixed cost. 3. If Hilo estimates driving 25,000 miles in April of 2020, what is the total estimated vehicle cost for that month? 4. The estimated cost formula can be used within what relevant range

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