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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: Blood Tests Blood Test
The number of blood tests performed and the related costs over the last nine months in Brentline Hospital are given below: Blood Tests Blood Test Month Performed Costs January 4,625 $ 81,516 February 7,750 $119,450 March 4,125 $ 74,504 April 3,680 $ 68,748 May 3,915 $ 72,178 June 3,000 $ 60,550 July 3,455 $ 65,688 August 4,725 $ 81,704 September 4,785 $ 83,164 Required: 1. Using the highlow method, estimate the cost formula for blood tests. (Round cost per unit answer to 2 decimal places.) CC. 2. Using the cost formula you derived above, what blood test costs would you expect to be incurred during a month in which 4,270 blood tests are performed? (Round your intermediate calculations answer to 2 decimal places.) Variable cost Fixed cost Total cost
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