Required information Problem 3-14 High-Low Method; Scattergraph Analysis [LO2] [The following information applies to the questions displayed below.] Travis Metals heats copper ingots to a high temperature by placing them in a large oven. The heated ingots are then run through a shaping machine that forms them into wire. Due to the length of time it takes the oven to heat up, it is never turned off. When the ingots are placed in the oven the temperature is raised to a higher level. Once they are done being heated the oven temperature is turned back down until a new batch of ingots is ready to be heated. The following information shows the ingots processed and the power costs over the past 10 months. Month Ingots Power Cost January 118 $5,820 February 98 $4,820 March 88 $4,720 April 108 $5,320 May 138 $6,320 June 128 $5,920 July 78 $4,320 August 68 $3,520 September 58 $3,720 October 48 $2,720 Problem 3-14 Part 2 & 3 Required: 2. Using the high-low method, estimate a cost formula for power costs. Express the formula in the form Y = a + bx. Y = Required: 2. Using the high-low method, estimate a cost formula for power costs. Express the formula in the form Y = a + bx. Y = + 3. Predict total power costs in a month when 148 ingots are processed. Total power costs