\begin{tabular}{|l|c|c|} \hline Manth & NumberofUnitsStipped & TotalShippingExpenses \\ \hline January & 3 & $3,600 \\ \hline February & 6 & $4,600 \\ \hline March & 4 & $3,400 \\ \hline April & 5 & $4,000 \\ \hline May & 7 & $4,600 \\ \hline June & 8 & $5,400 \\ \hline July & 7 & $2,400 \\ \hline August & 1 & $1,200 \\ \hline \end{tabular} Refer to the data in Exercise 3-2 for the Cool-lt Company. Required: 1. Using the high-low method, estimate the fixed shipping expenses per month and the variable cost of shipping each unit. 2. Express the fixed and variable components of total monthly shipping expenses as a cost formula. 3. If Cool-tt Company expects to ship 20 units next month, woula you feel comfortable using the cost formula from part 2 to estimate total shipping expenses? Why or why not? \begin{tabular}{|l|c|c|} \hline Manth & NumberofUnitsStipped & TotalShippingExpenses \\ \hline January & 3 & $3,600 \\ \hline February & 6 & $4,600 \\ \hline March & 4 & $3,400 \\ \hline April & 5 & $4,000 \\ \hline May & 7 & $4,600 \\ \hline June & 8 & $5,400 \\ \hline July & 7 & $2,400 \\ \hline August & 1 & $1,200 \\ \hline \end{tabular} Refer to the data in Exercise 3-2 for the Cool-lt Company. Required: 1. Using the high-low method, estimate the fixed shipping expenses per month and the variable cost of shipping each unit. 2. Express the fixed and variable components of total monthly shipping expenses as a cost formula. 3. If Cool-tt Company expects to ship 20 units next month, woula you feel comfortable using the cost formula from part 2 to estimate total shipping expenses? Why or why not