E5-24 (Algo) Estimating Cost Behavior Using Least-Squares Regression and High-Low Method [LO 5-3, 5-4] Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: The regression output was based on the following data: Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of \\( y=a+b x \\). 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of \\( y=a+b x \\). 6. If 22,400 copies are made during January, what is the total cost predicted by each method? Complete this question by entering your answers in the tabs below. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. Note: Round your intermediate calculations and variable cost per unit to 2 decimal places. E5-24 (Algo) Estimating Cost Behavior Using Least-Squares Regression and High-Low Method [LO 5-3, 5-4] Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: The regression output was based on the following data: Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of \\( y=\\mathrm{a}+\\mathrm{b} x \\). 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of \\( y=a+b x \\). 6. If 22,400 copies are made during January, what is the total cost predicted by each method? Complete this question by entering your answers in the tabs below. What is the fixed cost for the Color Copy Department? Note: Round your answer to 2 decimal places. E5-24 (Algo) Estimating Cost Behavior Using Least-Squares Regression and High-Low Method [LO 5-3, 5-4] Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: The regression output was based on the following data: Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of \\( y=a+b x \\). 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of \\( y=a+b x \\). 6. If 22,400 copies are made during January, what is the total cost predicted by each method? Complete this question by entering your answers in the tabs below. If 22,400 copies are made during January, what is the total cost predicted by each method? Note: Use the answers that you provided in parts 3 and 5-b and round your final answers to 2 decimal places. E5-24 (Algo) Estimating Cost Behavior Using Least-Squares Regression and High-Low Method [LO 5-3, 5-4] Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: The regression output was based on the following data: Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of \\( y=a+b x \\). 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of \\( y=a+b x \\). 6. If 22,400 copies are made during January, what is the total cost predicted by each method? Complete this question by entering your answers in the tabs below. What is the variable cost per color copy for TOSS? Note: Enter your answer in cents, rounded to 1 decimal place (i.e., \\( \\$ 0.076 \\) should be entered as 7.6). E5-24 (Algo) Estimating Cost Behavior Using Least-Squares Regression and High-Low Method [LO 5-3, 5-4] Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: The regression output was based on the following data: Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of \\( y=a+b x \\). 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of \\( y=\\mathrm{a}+\\mathrm{b} x \\). 6. If 22,400 copies are made during January, what is the total cost predicted by each method? Complete this question by entering your answers in the tabs below. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of \\( y=\\mathrm{a}+\\mathrm{b} x \\). Note: Round your fixed costs to 2 decimal places and your variable cost per unit to 3 decimal places. E5-24 (Algo) Estimating Cost Behavior Using Least-Squares Regression and High-Low Method [LO 5-3, 5-4] Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: The regression output was based on the following data: Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of \\( y=\\mathrm{a}+\\mathrm{b} x \\). 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of \\( y=a+b x \\). 6. If 22,400 copies are made during January, what is the total cost predicted by each method? Complete this question by entering your answers in the tabs below. What cost formula should be used based on your analysis? Enter answer as an equation in the form of \\( y=a+b x \\). Note: Round your intermediate calculations and your final answers to 2 decimal places