Solution for QID #706: The following data have been extracted from the records of P | StudyHelpMe

The following data have been extracted from the records of Puzzle, Inc.:Production level, in units – February = 12,000 August = 18,000Variable costs – February- $21,000 August = $?Fixed costs – Feb = ? Aug = 31,000Mixed costs – Feb = 18,000 Aug = ?Total costs – Feb = $70,000 Aug = $88,000Required:a. Calculate the missing costsb. Calculate the cost formula for mixed cost using the high-low methodc. Calculate the total cost that would be incurred for the production of 20,000 unitsd. Identify the two key cost behavior assumptions made in the calculation of your answer to part c