Gabel Industries has collected the following data in order to analyze the behavior of their costs:
a.Using the high-low method,calculate the variable cost per unit and the estimated fixed costs.
b.Using the resulting relationship,predict the costs if they produce 18,500 units in a future period.
Definitions:
Indemnity
A contractual obligation of one party to compensate the loss incurred by the other party due to the acts of the indemnifier or other specified events.
Requirement of Writing
The requirement of writing specifies that certain agreements or contracts must be in written form to be legally binding and enforceable.
Mental Incapacity
A condition where an individual lacks the ability to make decisions because of mental health issues or intellectual disabilities.
Executed Agreement
A contract that has been fully performed by all parties involved, with all terms satisfied and obligations met.
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