Bell Fitness, Inc., operates a chain of fitness centers in Philadelphia. The firm's controller is data to be used in preparing its annual profit plan for the coining year. The cost behavior of the firm s equipment maintenance costs must be determined. The accounting staff has sug the use of an equation, in the form of Y = a + bX, for maintenance costs. Data regarding the hours and costs for last year are as follows: Using the high-low method of cost estimation, estimate the behavior of the maintenance cost incurred by Liberty Bell Fitness Inc. Express the cost behavior pattern in equation form. Using your answer to requirement (1). what is the variable component of the maintenance cost? Compute the predicted maintenance cost at 700 hours of activity. Compute the variable cost per hour and the fixed cost per hour at 980 hours, of activity. Explain why the fixed cost per hour could be misleading