Exhibit 5-1 Presented below are the production data for the mixed costs incurred by Clarion Company, Month Cost Units March $4,700 3,700 April 7,200 5,050 May 5,565 4,725 June 9,500 8,500 July 7,915 6,745 August 8,300 7,500 Clarion Company uses the high-low method to estimate mixed costs. Refer to Exhibit 5-1. How would the cost function be stated using the high-low method? Y = $3,700+ $1.00X OY - $9,500+ $1.00X Y = $1,000+ $1.00X Y-$3,700 + $1.10X