Refer to Exhibit 5-1. How would the cost function be stated using the high-low method?

		Y = $3,700 + $1.00X
		Y = $9,500 + $1.00X
		Y = $1,000 + $1.00X
		Y = $3,700 + $1.10X
		None of the answer choices is correct.

Exhibit 5-1 Presented below are the production data for the mixed costs incurred by Clarion Company. Month March April May June Cost $4.700 7,200 5,565 9,500 7.915 8,300 Units 3,700 5,050 4,725 8,500 6.745 7.500 July August Clarion Company uses the high-low method to estimate mixed costs