Use the information from the high- and low-volume months to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = +x Plot the data on a scatter diagram. Using the information from representative high- and low volume months, use the high-low method to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = Adjust the equation developed in requirement (b) to incorporate the effect of an anticipated 5% increase in wages. Monthly labor costs = Use the information from the high- and low-volume months to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = +x Plot the data on a scatter diagram. Using the information from representative high- and low volume months, use the high-low method to develop a cost-estimating equation for monthly labor costs. Monthly labor costs = Adjust the equation developed in requirement (b) to incorporate the effect of an anticipated 5% increase in wages. Monthly labor costs =