1. Last year, your friend started their own small business. For the first 12 months, your friend was just focused on day-to-day operations and didn't think much about planning or the future. Now that things are settling down a little, your friend wants to look at getting a better handle on planning for month to month. Your friend was able to provide you with some summary data from their first 12 months of operations. May Jul Month Units Sold Total Revenue Total Expense Jan 300 $ 12,000.00 $ 16,000.00 Feb 900 $ 36,000.00 $ 17,200.00 Mar 1,400 $ 56,000.00 $ 25,300.00 Apr 1,200 $ 48,000.00 $ 18,000.00 1,600 $ 64,000.00 $ 39,400.00 Jun 1,100 $ 44,000.00 $ 15,000.00 1,300 $ 52,000.00 $ 21,900.00 Aug 1,900 $ 76,000.00 $ 30,200.00 Sep 2,100 $ 84,000.00 $ 41,000.00 1,400 $ 56,000.00 $ 22,800.00 Nov 1,700 $ 68,000.00 $ 29,400.00 Dec 1,600 $ 64,000.00 $ 36,500.00 a) Fixed Costs ABC b) Variable Costs c) Regression analysis in Excel d) Using an estimated cost equation to estimate/project costs e) Relevant Range Oct