Average number of orders Average number of parts 280 475 2. Calculate fixed monthly cost and the variable rates for temp agency payments, warehouse rent, and electricity. If required, round your answers to the nearest cent and use the rounded answers in subsequent computations. Average fixed monthly cost Variable rate for temp agency Variable rate for warehouse rental Variable rate for electricity Express the results in the form of an equation for total cost. < Monthly cost = + $ per order per part per machine hour (orders) (parts) (machine hours) 3. In July, Darnell predicts there will be 420 orders, 240 parts, and 5,900 machine hours. What is the total labor and overhead cost for July? Round interim computations to 1 decimal place and round final answer to the nearest dollar. 4. What if Darnell buys a new machine in July for $30,000? The machine is expected to last 10 years and will have no salvage value at the end of that time. What part of the cost equation will be affected? How will this part of the cost equation be affected? What is the new expected cost in July? When required, round your answer to the nearest dollar. 5. Students are asked to form a prediction or estimation of various costs based on the cost function they created using the Thus, their resulting estimates of various costs represent an example of happen financially if the decisions involving the associated costs are implemented. method. data analytics as they provide useful inputs regarding what will