Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Submit The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Blood Tests Performed
Submit The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Blood Tests Performed Blood Test Costs Month January February March $35,310 $ 41,950 $ 28,626 $ 26,262 $ 27,961 $ 21,800 $ 24,723 $ 30,116 $ 33,250 4,360 5,500 3,450 April May 3,140 3, 282 2,400 June July August September 2,918 3,700 4,080 Required: 1. Using the high-low method, estimate the cost formula for blood tests. (Round cost per unit answer to 2 decimal places.) 2. Using the cost formula you derived above, what blood test costs would you expect to be incurred during a month in which 3,290 blood tests are performed? (Round your intermediate calculations answer to 2 decimal places.) Variable cost Fixed cost 0. Total cost
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started