Rio Bus Tours has incurred the following bus maintenance costs during the recent tourist season. (The real is Brazil's national monetary unit. On the day this exercise was written, the real was equivalent in value to .269 U.S. dollar.) Month November December January February March April Miles Traveled by Tour Buses 14,700 17,200 19,700 23,800 31,300 13,300 Cost 18,400 real 18,700 18,850 19,300 20,500 17,800 Required: 1. Use the high-low method to estimate the variable cost per tour mile traveled and the fixed cost per month. 2. Develop a formula to express the cost behavior exhibited by the company's maintenance cost. 3. Predict the level of maintenance cost that would be incurred during a month when 42,000 tour miles are driven. Required 1 Required 2 Required 3 -- Use the high-low method to estimate the variable cost per tour mile traveled and the fixed cost per month. (Round "Variable cost per tour mile" to 3 decimal places.) Variable cost per tour mile real Fixed cost per month real Required 1 Required 2 Required 3 Develop a formula to express the cost behavior exhibited by the company's maintenance cost. (Round "Variable cost per tour mile" to 3 decimal places.) Maintenance cost per month = real + real x Required 1 Required 2 Required 3 ----------------- Predict the level of maintenance cost that would be incurred during a month when 42,000 tour miles are driven. Maintenance cost real