Review Problem: High-Low Method-Mixed Costs Morts and Sanchis is a restaurant that is responsible for paying liquor license to the local $ 30.500 municipality. The own charges and amount per drink for the total fee. Number of Drinks Total Fee 20.000 12.000 17.00 38.000 14.600 1. 1. Based on the following information, generate the total cost equation (the equation for a line) for this mixed cost. Use the form TC (VC.X+FCT VC per unit FC calculation: TCVC(x) + FC 2. What part of the equation represents the variable portion? The fixed portion? TC- 3. Using your equation in part (2), draw the graph that would approximate this mixed cost. Total S 0 Number of Drinks 4. Based on the budget formula in part (2), what would be estimated total fee if 15,000 drinks are budgeted? 50