Use the four steps of the high-low method to estimate total fixed costs per month, and the variable cost per surgery. State your results in the cost equation form Y = f + vX by filling in the dollar amounts for f and v.Use the five steps of the scattergraph method to estimate total fixed costs per month, and the variable cost per surgery. State your results in the cost equation form Y = f + vX by filling in the dollar amounts for f and v.Use the results of the high-low method (a) and scattergraph method (b) to estimate costs for 70 surgeries. (You will have two different answers?one for each method.) Which approach do you think is most accurate and why?Assume Laser It charges $4,000 for each surgery performed. Use the high-low cost information (for 70 surgeries) to prepare a contribution margin income statement. (Hint: You will only have one line item for variable costs and one line item for fixed costs.)

aser It, Inc., provides Laser Liposuction surgery for its patients. You are the accountant for Laser It, d management has asked you to devise a way of accurately estimating company costs for planning d decision-making purposes. You believe that reviewing historical data for costs and number of urgeries is the best starting point. These data are as follows: eporting Period (Month) Total Costs Number of Surgeries anuary $209,000 54 ebruary 206,000 52 arch 217,000 55 pril 200,000 50 ay 233,000 62 une 229,000 60 uly 225,000 57 ugust 234,000 63 eptember 252,000 71 ctober 251,000 70 ovember 246,000 66 ecember 245,000 65 equired: 1. Use the four steps of the high-low method to estimate total fixed costs per month, and the