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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 Blood Tests
The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Month Blood Tests Blood Test Costs Performed January 3,580 $ 51,406 February 4,100 $ 57,150 March April 2,890 $ 42,030 2,192 $ 33,070 May June 2,340 $ 35,552 1,500 $ 24,650 July 2,050 $ 31,011 August 2,940 $ 42,452 September 3,350 $ 48,341 Required: 1. Using the high-low method, estimate the cost formula for blood tests. (Round cost per unit answer to 2 decimal places.) Y = + 2. Using the cost formula you derived above, what blood test costs would you expect to be incurred during a month in which 2,310 blood tests are performed? (Round your intermediate calculations answer to 2 decimal places.) Variable cost Fixed cost Total cost
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