Cost estimation: High-low method and Least Squares (10 Marks) 1 Express the relationship between total cost (TC), variable cost per unit (VC), Volume (x), and fixed cost (FC) in equation form. (1 Mark) 2 Explain how a scattergraph is used to separate a mixed cost into its fixed and variable components. (2 Mark) 3 The administrator of Aztec Hills Hospital would like a cost formula linking the administrative costs involved in admitting patients to the number of patients admitted during a month. The Admitting Department’s cost and the number