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The following information is taken from Lab Works Canada: Number of Tests Performed Total Cost of Testing June 30,000 98,500 July 40,000 117,000 August 35,000
The following information is taken from Lab Works Canada: Number of Tests Performed Total Cost of Testing June 30,000 98,500 July 40,000 117,000 August 35,000 107,750 September 25,000 89,250 ALL WORK MUST BE SHOWN Required: Using the high-low method, determine the following: A. The variable cost per test. Round to 2 digits. B. The total fixed cost of operating the testing facility. C. What is the cost formula for Lab Works Canada? D. The expected cost for a month if 85,000 tests are performed
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