Rudi P is a caterer who prepares banquets and parties for individual and business functions. He is required to submit estimates to his customers. While he is confident about his estimated costs for food, beverages, and labour costs, he is not certain of his overhead estimate. He has collected actual data for the past 12 months and it is provided below: a. Use the High-Low method to calculate the: i. variable overhead cost per labour hour ii. total fixed overhead cost b. State the cost function c. Use the Least-Squares (Regression) method to calculate the: i. variable overhead cost per labour hour ii. total fixed overhead cost d. State the cost function [4 marks] [3 marks] [1 mark] [20 marks] [4 marks] [1 mark] e. What would be the overhead cost in a month in which 4,950 labour hours were worked using: i. The high-low cost function and [2.5 marks] ii. The regression cost function [2.5 marks] f. Explain which of the above costs you would consider to be more reliable. [4 marks]