VII. Total Factory Overhead Costs (FOH) information of a factory for the past eight months are given below: Month Units FOH January 1,750 40,000 February 2,750 60,000 March 3,500 75,000 April 1,600 36,000 |May 2,3501 56,000 June 2.100 50,000 July 1,520 36,000 August 1,000 35,000 Required: (10 points) 1. Using the high-low method, determine the formula for total Factory Overhead Costs. 2. Using the cost formula you derived above, what total FOH costs would you expect to be incurred during a month in which 4,500 units are produced? 3. The following cost function was the result of a least- squares regression analysis: Y = $11,529 + $17.85% R2 = 0.9508 4. Should the manager use the high-low or the regression method? Explain your