question 1:

The manager of the main laboratory facility at Metro Health Center is interested in being able to predict the overhead costs each month for the lab. The manager believes that total overhead varies with the number of lab tests performed but that some costs remain the same each month regardless of the number of lab tests performed. The lab manager collected the following data for the first seven months of the year. E: (Click the icon to view the data.) Use the high-low method to determine the laboratory's cost equation for total laboratory overhead. Use your results to predict total laboratory overhead if 2,900 lab tests are performed next month. - X Data table (slope). (slope) Number of Lab Tests Performed Total Laboratory Overhead Costs Month 3,300 January ..... February ... 3,150 March 4,100 $28,900 $28,300 $32,500 $34,000 $29,900 4,250 April. May 4,500 1,500 June $17,000 $15,500 July 1,700 Print Done Let's begin by determining the formula that is used to calculate the variable cost (slope). Change in cost Change in volume Variable cost (slope) Now determine the formula that is used to calculate the fixed cost component. Total operating cost Total variable cost Fixed cost Use the high-low method to determine CenterHealth's operating cost equation. (Round the variable cost to the nearest cent.) y = $ X+ $ Use the operating cost equation you determined above to predict total laboratory overhead if 2000 lab tests are performed next month. The total laboratory overhead at a volume of 2909 lab tests is $