QUESTION 3 (37 marks) Label (Pty) Ltd is a local clothing manufacturer that manufactures T-shirts according to the specific designs or prints required by their customers. In order to tailor-make the T-shirts, Label (Pty) Ltd's designers spend a lot of time on the phone discussing the details with their customers. During the six months ended 31 December 2022, the following information was obtained: Month Number of tailor-made Telephone costs (semi- units produced variable) in Rands July 2022 122 2050 August 2022 131 2 079 September 2022 127 2070 October 2022 115 2 000 November 2022 135 2 100 December 2022 140 2 400 Additional information: It is estimated that in January 2023, the total number of units (tailor-made T-shirts) manufactured will be 115. REQUIRED: Calculate the total budgeted semi-variable telephone costs if 115 T-shirts are manufactured in January 2023 using the following methods: 3.1 The high-low method. Use the high output level to calculate the fixed cost component. (11 marks) 3.2 The least squares method (regression analysis). Use the following formulae when using this method: xy = ax + bx2 y = na + bx 2 (1) (2)