Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 1,400     $302,400   2,740     425,040   4,200     470,400   a.  Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) $fill in the blank 1 per unit Total fixed cost: $fill in the blank 2 b.  Based on part (a), estimate the total cost for 2,020 units of production. Total cost for 2,020 units: $fill in the blank 3

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Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.