7. [Answer & Solving Process] Venus Company has assembled the following 5-month data pertaining to certain costs that cannot be easily identified as either fixed or variable. Venus Company has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation using direct labor hours as a cost driver. Month Cost Direct Labor Hours January $332.000 1,100 hours February $322,000 950 hours March $277,000 850 hours April $265,070 870 hours May $343,700 1,080 hours What is the estimated total costs at an operating level of 840 direct labor hours? 1 $256,340 2 $253,837 3 $274,800 4 $184,800 6 $274,100