Price Drycleaners has capacity to clean up to 5,000 garments per month Requirements 1. Complete the schedule below for the three volumes shown 2. Why does the average cost per garment change? 3. Suppose the owner, Doug Price, erroneously uses the average cost per unit al capacity to predict total costs at a volume of 2.000 garments. Would he overestimate or underestimate his total costs? By how much? Requirement 1. Complete the following schedule for the three volumes shown. (Round all unit costs to the nearest cent and all total costs to the nearest whole dolar) 2,000 3,500 Garments Garments Garments Total variable costs $ 2,625 5.000 Total fixed costs Total operating costs Variable cost per garment 2.00 Fixed cost per garment Average cost per garment 1. Mailbox Magic produces decorative mailboxes. The company's average cost per unit is $25.43 when it produces 1,500 malboxes Requirements What is the total cost of producing 1.500 mailboxes? 2. If $21,645 of the total costs are fixed, what is the variable cost of producing each malbok? 3. Write Mailbox Magic's cost equation 4. If the plant manager uses the average cost per unit to predict total costs, what would the forecast be for 1.700 mailboxes? 5. If the plant manager uses the cost equation to predict total costs, what would the forecast be for 1,700 mailboxes? 6 What is the dollar difference between your answers to questions 4 and 5? Which approach to forecasting costs is appropriate? Why? Requirement 1. What is the total cost of producing 1,500 maiboxes? The total cost of producing 1,500 mailboxes is $