Monty Theater Company is interested in estimating fixed and variable costs. The following data are available for the month of December: Number of Tickets Sold Cost December 5,200 $400.680 $87.840 179,760 62.210 Detail of Cost: Author royalties/fees* Wages (ticket office, ushers, etc.) Rent Utilities Food and beverages Depreciation-theater equipment Owner's salary Total 6,590 41,600 13,530 9.150 $400.680 *Author royalties/fees are fixed because the theater pays for the right to put on the play; royalties and fees are not paid based on the number of tickets sold. (a) Your Answer Correct Answer Use account analysis to estimate fixed cost per month and variable cost per tickets sold [i.e., estimate a and b in the equation Cost = a + (bx Sales)). Assume the only variable cost in food and beverages. (Round variable cost per ticket sold to two decimal places, eg. 15.25.) Cost $ x # of tickets