A company has collected the following information for total compensation in Department 1 for the first 6 months of the year. The company is developing cost formulas to use for budgeting purposes. Required: Answer the following questions by placing your answers in the box provided. Round your final answers to the closest dollar. Use commas in your answers but no $. Show your work on a separate piece of paper and upload it after you submit the exam. 1. Using the high-low method, determine the total cost formula for department 1 and enter your answers in the boxes below. Total Cost =$+$ /h hours worked 2. The department supervisor expects the emplovees to work 500 hours in July. How much total compensation cost should be udgeted in Department 1 for July? $