Section 2: Cost estimation and prediction Port 1 Sentinels Ltd assembles and exports sensors. The following information is available for the month: . Annual depreciation on factory building and equipment totals \"113003000. . Payroll records show engineersr and factory supervisors' salaries total $31,000 per month. ' Fixed daily charges for electricity totals $1000 per month and usage costs average $0.01 per sensor. ' Sales connnission paid to salespersons average $53,000 per month- . Invoices om suppliers show the plastic: magnets and circuit boards used in producing sensors cost: on average, $0.10 per unit. ' Machines are maintained every month at a total cost of $1500. ' Wage records show that wages and on-costs for production employees average $0.02 per sensor. Required: 1. Use the accountclassication method to express the cost inction for estimating total monthly production co st. 31. Predict the production cost for next month: assuming that T003000 sensors will be manufactured. Part 2 Clementine operates self-serviced apartments and would like a cost formula linking total costs to occupancy days. The total costs and occupancy days for the past 12 months are as follows: Month Occupancy days Total Costs July 378 45,800 August 788 72,200 September 619 61.600 October 642 73.500 November 957 81,400 December 1,113 89.800 January 1,069 88.400 February 864 73,000 March 653 67.800 April 750 73,900 May 609 75.200 June 505 60,000 The relevant range of monthly occupancy capacity is 500 to 1,020 days. Required: 1. Use the high-low method to express the cost function for total costs. The cost function needs to be able to reasonably predict future monthly costs for Clementine. 2. Explain whether you will use this cost function to predict the total costs for 900 occupancy days