Score: 1.71 of 2 pts 8 of 9 (9 complete) HW Score: 87.9 W E6-30A (similar to) Que The manager of the main laboratory facility at Metro Health Center is interested in being able to predict the overhead costs each month for the lab. The manager believes that total overhead varies with the number of lab tests performed but tha the same each month regardless of the number of lab tests performed. The lab manager collected the following data for the first seven months of the year. (Click the icon to view the data.) Use the high-low method to determine the laboratory's cost equation for total laboratory overhead. Use your results to predict total laboratory overhead if 2,600 lab tests are performed next month. Let's begin by determining the formula that is used to calculate the variable cost (slope). Change in cost Change in volume Variable cost (slope) x Data Table Now determine the formula that is used to calculate the fixed cost component Total operating cost Total variable cost Fixed cost Use the high-low method to determine MetroHealth's operating cost equation. (Round the variable cost to the nearest cent.) Number of Lab Tests Performed Total Laboratory Overhead Costs Month y = $ 3.50 x + $ 15.000 2.700 $22,900 January ..... February Use the operating cost equation you determined above to predict total laboratory overhead if 2,600 lab tests are performed next month. 2,500 $23,500 March 3,500 $29,800 The total laboratory overhead at a volume of 2,600 lab tests is April. 4,000 $32,500 May $31,100 June. 4,600 2,000 2,250 $22,000 July $19,100 Print Done Enter any number in the edit fields and then click Check