Use the high-low method to determine Ethan's operating cost equation. Let's begin by determining the formula that is used to calculate the variable cost (slope). Change in cost Change in volume Variable cost (slope) Now determine the formula that is used to calculate the fixed cost component. Total operating cost Total variable cost Fixed cost Use the high-low method to determine the variable and fixed costs components of Ethan's operating cost equation. (Round the variable cost to the nearest cent.) Roquirement 2. Use your answer from Requirement 1 to predict total monthly operating costs if Ethan serves 4,600 pancakes in 1 month. The total monthly operating costs if Ethan serves 4,600 pancakes is $. Requirement 3. Can you predict total monthly operating costs if Ethan serves 18,000 pancakes a month? Explain. The cost equation Data Table Month Number of Pancakes Total Operating Costs July.... 3,700 2,330 August 4,100 2,410 ..... September.... 3,200 2,320 October.... 3,400 $ 2,260 November..... 3,800 2,520 December.... 3,500 2,500 Print Done %24 %24 %24 %24 %24