Problem 4-4 Lancer Audio produces a high-end DVD player that sells for $1,300. Total operating expenses for July were as follows: 150 $71,000 2,500 25,000 2,300 5,600 Units produced and sold Component costs Supplies Assembly labor Rent Supervisor salary Electricity Telephone Gas Shipping Advertising Administrative costs Total 350 280 300 2,000 2,600 15,000 $126,930 Total operating expenses for the past 12 months are as follows: August September October November December January February March April Units Produced and Sold 165 130 150 145 155 170 140 150 145 150 140 135 Cost $140,345 116,990 130,650 127,670 133,790 143,910 123,520 130,950 127,385 129,865 122,720 120,255 May June July x Your answer is incorrect. Try again. Use regression analysis to estimate fixed and variable costs. (Round answers to 2 decimal places, e.g. 15.25.) Estimated fixed cost 28580 Estimated variable cost 98350 LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Use account analysis and the high-low method to determine fixed cost per month and variable cost. Variable cost Fixed cost Account analysis High-low Which method provides the best estimates of fixed and variable costs? Regression approach provides the best estimates of fixed and variable costs. Click if you would like to Show Work for this question: Open Show Work