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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
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 Blood Tests Performed 6,225 8,750 5,480 Blood Test Costs $108,462 $140,000 $98,150 April May June 4,930 $90,862 5,045 $ 92,900 4,200 $ 81,760 July 4,655 $87,148 August 5,525 September 5,580 $ 98,626 $ 99,820 Required: 1. Using the high-low method, estimate the cost formula for blood tests. (Round cost per unit answer to 2 decimal places.) 2. Using the cost formula you derived above, what blood test costs would you expect to be incurred during a month in which 5,310 blood tests are performed? (Round your intermediate calculations answer to 2 decimal places.) Variable cost Fixed cost Total cost
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