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Multi Part Question. Please explain your answer The data below have been taken from the cost records of the Halifax General Hospital. The data relate
Multi Part Question. Please explain your answer
The data below have been taken from the cost records of the Halifax General Hospital. The data relate to the costs of admitting patients at various levels of patient activity: Month May June July August September October November December Number of Patients Admitted 3,600 3,800 2,900 3,200 3,300 2,600 2,200 3,500 Admitting Department Costs $ 29,400 $ 30,400 $ 27,400 $ 28,000 $ 28,600 $ 26,200 $ 25,600 $ 29,200 Required: 1. Using the high-low method, estimate the fixed cost of admitting patients per month and the variable cost of admissions per patient. Fixed cost element $ Variable cost element $Step by Step Solution
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