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The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Month January February March
The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Month January February March April May June July August September Blood Tests Performed 5,115 6,600 4,565 4,015 4,175 3,300 3,875 5,010 5,045 Blood Test Costs $ 58,968 $ 73,640 $ 52,478 $ 46,440 $ 48, 746 $ 39,320 $ 44,752 $ 56,890 $ 57,958 Required: 1. Using the high-low method, estimate the cost formula for blood tests. (Round cost per unit answer to 2 decimal places.) Y = X 2. Using the cost formula you derived above, what blood test costs would you expect to be incurred during a month in which 4,455 blood tests are performed? (Round your intermediate calculations answer to 2 decimal places.) Variable cost Fixed cost Total cost $ 0
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