E5-24 (Static) 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: Intercept 238.69 R-squared 0. 968 Number of observations X coefficient 0. 069 The regression output was based on the following data: Number of Color Copy Month Color Copies Department Costs July 17,000 $ 1, 445 August 21, 250 1, 658 September 22,956 1, 785 October 18,706 1, 530 November 20,406 1, 615 December 25,506 2, 040 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 + bx. 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 + bx. 6. If 22,100 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. Req 1 Req 2 Reg 3 Req 5A Req 5B Req 6 What is the variable cost per color copy for TOSS? Note: Enter your answer in cents, rounded to 3 decimal places. Variable rnet ner color conv (in cents)