Answered step by step
Verified Expert Solution
Question
1 Approved Answer
gavi The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below. Month Blood
gavi The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below. Month Blood Tests Performed Blood Test Costs January 5,065 $ 34,536 February 6,950 $44,370 March 4,360 $ 29,867 April 4,040 $27,818 May 4,170 $ 29,186 June 3,300 $23,930 July 3,810 $26,296 August 4,630 $31,128 September 4,810 $ 32,866 Required: 1. Using the high-low method, estimate the cost formula for blood tests. (Round cost per unit answer to 2 decimal places.) 2. Using the cost formula you derived above, what blood test costs would you expect to be incurred during a month in which 4,590 blood tests are performed? (Round your intermediate calculations answer to 2 decimal places.) Variable cost Fixed cost Total cost $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started