The Barnett Company has assembled the following data pertaining to certain costs that cannot be easily identified as cither fixed or variable. Barnett Company has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation. Cost Hours $24,900 5,250 24,000 5,500 44,160 9.750 45,000 9,500 What is the cost function? A y = $43,191 + $0.19% B. y = $4,875 + $5.25% C. y = $41,900 + $0.23X D. y = $2,430 + $4.28X Classifying costs according to their behavior is crucial in management accounting. Explain. (Your answer should include what is meant by cost behavior, how different costs behave with examples, and why understanding cost behavior is important in cost and management accounting). CPAs, Inc., provides continuing professional education for certified public accountants. The company is relatively new and management is seeking information regarding the company's cost structure. The following information has been gathered for the first six months of the current year: January February March April May June Seminars Offered Costs incurred 515200 10 517 000 13 $10.400 16 $21.800 520.000 11 $18.200 Required: a. Using the high-low method, estimate the variable cost per seminar and the total fixed cost per month. b. If CPAs Inc expects to hold 20 seminars in July, what would be estimated cost