Information: The art and graphics department of State College decided to equip each faculty office with an inkjet color printer (computers were already in place). Sufficient color printers had monthly depreciation of $250. The department purchased paper in boxes of 10,000 sheets (20 reams of 500 sheets each) for $35 per box. Ink cartridges cost $30 and will print, on average, 300 pages. Required: 1. Create a formula for the monthly cost of inkjet printing in the department. 2. If the department expects to print 4,400 pages next month, what is the expected total fixed cost? Total variable cost? Total printing cost? Information: BlueDenim Company makes blue jeans. The company controller wants to calculate the fixed and variable costs associated with electricity used in the factory. Data for the past eight months were collected: Month January February March April May June July August Required: Electricity Cost ($) 3,255 3,485 4,100 3,300 3,312 2,575 3,910 4,200 Machine Hours 460 500 600 470 470 350 570 590 Using the high-low method, calculate the fixed cost of electricity, calculate the variable rate per machine hour, and construct the cost formula for total electricity cost.