that some costs remain 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 $3,500$ lab tests are performed next month.

Let's begin by determining the formula that is used to calculate the variable cost $($slope$).$

$=$ Variable cost $($slope$)$

Data table

$\backslash$table$[[$Month$,\backslash$table$[[$Number of Lab$],[$Tests Performed$]],\backslash$table$[[$Total Laboratory$],[$Overhead Costs$]]],[$January $....,2,800,$$$21,500$