The manager of the main laboratory facility at Capital Health Center is interested in being able to predict the overhead costs each month for the lab. The manager believes that total overhead varies with the number of lab tests performed but that some costs remain the same each month regardless of the number of lab tots performed. The tab 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 ir 3,500 lab tests are performed next month Data Table Let's begin by determining the formula that is used to calculate the variable cost (slope) Change in cost Change in volume Variable cost (slope) Now determine the formula that is used to calculate the fixed cost component, Total operating cont Total variable cost Use the high-low method to determine Capital Health's operating cost equation (Round the v Month - Fixed cost Number of Lab Tests Performed 2.900 2,800 3.300 3.000 4,300 Total Laboratory Overhead Costs 525,400 $25,200 $26,000 $30,000 $29,000 January February March April May June July V. y 1.800 3,700 $18,500 $26,800 Print Done Enter any number in the dit fields and then click Check