EXERCISE 2-13 High-Low Method; Predicting Cost [LO3, L04] The number of X-rays taken and X-ray costs over the last nine months in Beverly Hospital are given below: Month January February March April May June. 1. 2. July August September. X-Rays Taken 6,250 7,000 5,000 4,250 4,500 3,000 3,750 5,500 5,750 X-Ray Costs $28,000 $29,000 $23,000 $20,000 $22,000 $17,000 $18,000 $24,000 $26,000 Required: Using the high-low method, estimate the cost formula for X-ray costs. Using the cost formula you derived above, what X-ray costs would you expect to be incurred during a month in which 4,600 X-rays are taken?

EXERCISE 2-13 High-Low Method; Predicting Cost [LO3, L04] The number of X-rays taken and X-ray costs over the last nine months in Beverly Hospital are given below: Required: 1. Using the high-low method, estimate the cost formula for X-ray costs. 2. Using the cost formula you derived above, what X-ray costs would you expect to be incurred during a month in which 4,600 X-rays are taken