Ex 6 Local bank does not know how much of its cheque-processing costs are fixed and how much are variable. However, total costs have been estimated at $750,000 for processing of 1,000,000 transactions and $850,000 for processing of 1,200,000 transactions. Required: 1- What are the variable costs per transaction? 2- What are the fixed costs? 3- Determine the expected costs of processing 1,300,000 transactions. Change Answer Volume (transactions) Cost 1,200,000 $850,000 1,000,000 $750,000 200,000 $100,000