Karen Meyer, owner of Tulip Time, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a fiat delivery fee, Meyer wants to set the delivery fee based on the distance driven to deliver the flowers. Meyer wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months Click the icon to view the data.) Use the high-low method to determine Tulip Time's cost equation for van operating costs. Use your results to predict van operating costs at a volume of 15,500 miles Let's begin by determining the formula that is used to calculate the variable cost (slope). Variable cost (slope) Now determine the formula that is used to calculate the fixed cost component - Fixed cost Use the high-low method to determine Tulip Time's operating cost equation. (Round the variable cost to the nearest cent and the forced cost to the nearest whole dollar.) y = $ *+s Use the operating cost equation you determined above to predict van operating costs at a volume of 15,500 miles. The operating costs at a volume of 15,500 miles is $ Karen Meyer, owner of Tulip Time, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Meyer wants to the delivery fee based on the distance driven to deliver the flowers. Meyer wants to separate the food and variable portions of her van operating costs so that she ha a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Use the high-low method to determine Tulip Time's cost equation for van operating costs. Use your results to predict van operating costs at a volume of 15,500 miles Let's begin by determining the formula that is used to calculate the variable cost (slope). = Variable cost (slope) hat is used to calculate the foxed cost component - Fixed cost determine Tulip Time's operating cost equation (Round the variable cost to the nearest cent and the food cost to the nearest whole dollar) Change in cost Change in volume Highest cost Highest volume Lowest cost Lowest volume Total operating cost Total variable cost tion you determined above to predict van operating costs at a volume of 15,500 miles ume of 15,500 miles is $ Karen Meyer, owner of Tulip Time, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging afat delivery fee, Meyer wants to set the delivery fee based on the distance driven to deliver the flowers. Meyer wants to separate the fixed and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: (Click the icon to view the data.) Use the high-low method to determine Tulip Time's cost equation for van operating costs. Use your results to predict van operating costs at a volume of 15,500 miles Let's begin by determining the formula that is used to calculate the variable cost slope) Variable cost (slope) cost component - Fixed cost Now determine the formula that Change in cost Change in volume Use the high-low method to date Highest cost Highest volume y = 5 XS Lowest cost Use the operating cost equation Lowest volume Total operating cost The operating costs at a volume Total variable cost cost equation (Round the variable cost to the nearest cent and the fixed cost to the nearest whole dollar) dict van operating costs at a volume of 15,500 miles Karen Meyer, owner of Tulip Time, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Meyer wants to set the delivery fee based on the distance driven to deliver the flowers. Meyer wants to separate the food and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months: Click the icon to view the data.) Use the high-low method to determine Tulip Time's cost equation for van operating costs. Use your results to predict van operating costs at a volume of 15,500 miles Let's begin by determining the formula that is used to calculate the variable cost (slope). Variable cost (slope) Now determine the formula that is used to calculate the foxed cost component Feed cost determine Tulip Time's operating cost equation (Round the variable cost to the nearest cent and the food cost to the nearest whole dollar) tion you determined above predict van operating costs at a volume of 15,500 miles Change in cost Change in volume Highest cost Highest volume Lowest cost Lowest volume Total operating cost Total variable cost ume of 15.500 miles is 5 Karen Meyer, owner of Tulip Time, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a flat delivery fee, Meyer wants to set the delivery fee based on the distance driven to deliver the flowers. Meyer wants to separate the forced and variable portions of her van operating costs so that she has a better idea how delivery distance affects these costs. She has the following data from the past seven months (Click the icon to view the data) Use the high-low method to determine Tulip Time's cost equation for van operating costs. Use your results to predict van operating costs at a volume of 15,500 miles Let's begin by determining the formula that is used to calculate the variable cost (slope) = Variable cost (slope) Now determine the formula that is used to calculate the foxed cost component - Fixed cost cost equation (Round the variable cost to the nearest cent and the fixed cost to the nearest whole dollar) adict van operating costs at a volume of 15,500 miles Use the high-low method to dete Change in cost yos X+S Change in volume Use the operating cost equation Highest cost Highest volume The operating costs at a volume Lowest cost Lowest volume Total operating cost Total variable cost yer, owner of Tulip Time, operates a local chain of floral shops. Each shop has its own delivery van. Instead of charging a fiat delivery fee, Meyer wants to set ary foo based on the distance driven to deliver the flowers. Meyer wants to separate the foxed and variable portions of her van operating costs so that she has dea how delivery distance affects these costs. She has the following data from the past seven months: k the icon to view the data.) thigh-low method to determine ng costs at a volume of 15,500 miles i Data Table gin by determining the formula Month termine the formula that is used January .. February........ March. ... Miles Driven 15,400 17.900 15,200 15,800 16,900 16,000 14,500 high-low method to determine x+s Van Operating costs $5,200 $5,480 $4,980 $5,350 $5,620 $5,300 $4,800 fixed cost to the nearest whole dollar) April..... May. June... operating cost equation you de July................ perating costs at a volume of 15.4 Print Done