Q3. (25 marks) High-Low Method Assume you work in Saint Lucio Hospital as an accountant and you have been asked by your supervisor to provide the number of blood tests performed and the related costs over the last nine months. The next morning you submitted a report to your supervisor (see below): Blood Blood Tests Test Costs Performed Month $ January 5,695 33,690 $ February 6,660 38,470 March 5,045 $ 29,774 April 4,605 27,366 May 4,790 $ 28,856 June 3,800 23,270 July 4,415 26,276 August 5,235 30,578 Septembe 5,365 31,752 r Required: a. Using the high-low method, estimate the cost formula for blood tests. (10 marks) b. Using the cost formula, you derived above, what blood test costs would you expect to be incurred during a month in which 6,500 blood tests are performed? (5 marks) G. Why is the high-low method used by some organizations? (5 marks) d. In addition to having variable and fixed costs, companies incur mixed costs as well. Explain briefly what mixed costs are and provide examples of mixed costs. (5 marks) Q4. (25 marks) - Absorption and Variable Costing HOLOLOLA Company manufactures and sells a single product. The following costs were incurred during