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High-Low Method Luisa Crimini has been operating a beauty shop in a college town for the past 10 years. Recently, Luisa rented space next to her shop and opened a tanning salon. She anticipated that the costs for the tanning service would primarily be fixed, but found that tanning salon costs increased with the number of appointments. Costs for this service over the past 8 months are as follows: Tanning Month Appointments Total Cost January 600 $1,754 February 1,900 $2,170 March 3,200 $2,820 April 2,600 $2,500 May 1,400 $1,700 June 2,200 $2,265 July 2,140 $2,200 August 3,000 $2,630 Required: 1. Which month represents the high point? The low point? High point Low point In your calculations, round per unit costs to the nearest cent. 2. Using the high-low method, compute the variable rate for tanning Compute the fixed cost per month. Round the variable rate per tanning appointment to the nearest cent and use it in your further calculations. Round the fixed cost per month to the nearest dollar and use it in your further calculations. Required: 1. Which month represents the high point? The low point? High point Low point In your calculations, round per unit costs to the nearest cent. 2. Using the high-low method, compute the variable rate for tanning Compute the fixed cost per month. Round the variable rate per tanning appointment to the nearest cent and use it in your further calculations. Round the fixed cost per month to the nearest dollar and use it in your further calculations. Variable rate for tanning $ per tanning appointment Fixed cost per month 3. Using the variable rate and fixed cost, what is the cost formula for tanning services? 4. Calculate the total predicted cost of tanning services for September for 2,400 appointments using the formula found in Requirement 3. Of that total cost, how much is the total fixed cost for September? How much is the total predicted variable cost for September? If required, round the final answers to the nearest dollar. Total predicted cost for September Total fixed cost for September Total predicted variable cost for September 5. Which of the following statements is correct when luisa uses the high-low method to estimate the costs? eBook Show Me How Calculator Print Ite Required: 1. Which month represents the high point? The low point? High point Low point January In your calculations March unit costs to the nearest cent. 2. Using the high May , compute the variable rate for tanning. Compute cent and use it in y June calculations. Round the fixed cost per month to t Variable rate for ta August per tanning appointment Fixed cost per month 3. Using the variable rate and fixed cost, what is the cost formula for tanning s 4. Calculate the total predicted cost of tanning services for September for 2,400 the total fixed cost for September? How much is the total predicted variable cost Total predicted cost for September Total fixed cost for September Total predicted variable cost for September 5. Which of the following statements is correct when luisa uses the high-low me Fixed cost per month $ 3. Using the variable rate and fixed ost, what is the cost formula for tanning services? Total tanning service cost = $2420 + ($0.37 x Number of appointments) for 2,400 appointments us iable cost for September? I Total tanning service cost = $2420 - ($0.37 x Number of appointments) Total tanning service cost = $1508 + ($0.41 x Number of appointments) Total tanning service cost = $1508 - ($0.41 x Number of appointments) Total predicted variable cost for September 5. Which of the following statements is correct when luisa uses the high-low method to estimate t 3. Using the variable rate and fixed cost, what is the cost formula for tanning services? 4. Calculate the total predicted cost of tanning services for September for 2,400 appointments using the formula found in Requirement 3. of that total cost, how much is the total fixed cost for September? How much is the total predicted variable cost for September? If required, round the final answers to the nearest dollar High-low method is based on only two data points and ignores all of the other data Luisa might be wise to calculate the cost formula 6 to 12 months later after a longer time period has elapsed since starting the tanning busin It appears there is significant excess tanning bed capacity in slow months or machines are being run to their utmost capacity in busy months. This might lead to greater machi All of the above. the nearest dollar and use it in your further calculations. services? 400 appointments using the formula found in Requirement 3. Of that total cost, how much is cost for September? If required, round the final answers to the nearest dollar. od is based on only two data points and ignores all of the other data. mula 6 to 12 months later after a longer time period has elapsed since starting the tanning business. achines are being run to their utmost capacity in busy months. This might lead to greater machine breakdown and maintenance costs. All of the above