The manager of the main laboratory facility at MetroFit 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 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 3,100 lab tests are performed next month. Let's begin by determining the formula that is used to calculate the variable cost (slope). Data table + =Variable cost (slope) - X Number of Lab Month Tests Performed Total Laboratory Overhead Costs January. 3,300 $28,900 February 3,150 $28,300 March 4,100 $32,500 April... 4,250 $34,000 May 4,500 $29,900 June.. 1,500 $17,000 July 1,700 $15,500 Print Done