Ron Lee, a marketing clerk for Star Agency, recorded the following information for last year: Month January February March April May June July August September October November December Number of Customers 356 417 338 526 400 457 366 495 345 531 443 415 Customer Service Costs $527,233 544,335 482,655 668,050 530,500 656,910 543, 770 680,400 487,230 712,325 629,030 542,000 He would like to be able to estimate customer service costs using the number of customers as the basis for estimation. However, because he has never taken a course in managerial accounting, he does not know how to set up a cost equation. He has therefore approached you for help. Required: 1. Set up a cost equation for monthly customer service costs using the high-low method. Y = 2. Using the equation from part (1), compute the estimated customer service costs if the number of customers is expected to be 700. Customer service costs 3. You also used the least-squares regression method to do the analysis of the costs; the analysis resulted in the following output: Intercept: Coefficient of X-variable: Adjusted Rsquare: 107,491.97 1,122.92 0.90 Set up a cost equation using the above numbers. (Round the "Fixed cost" to the nearest dollar amount and "Variable cost" to 2 decimal places.) Y = +