Use the high-low method to determine the variable cost rate/FTE student, and the total fixed costs based on the quarterl

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Use the high-low method todetermine the variable cost rate/FTE student, and the total fixedcosts based on the quarterlyexpense budget for 2020-21(Exhibit 1). Be sure to recognize the time period covered by yourestimates (i.e., variable cost/FTE/ for what period?And total fixed costs for what period?)
Present cost function in the standard form TC = FC +VC/unit (X), where:
Average FTES Revenue Expenses: Advertising/Promotion Appliances Bad Debt Head-Quarters Assessments Depreciation Dues & Subscriptions Food & Catering License & Permits Insurance Interest Maintenance & Repairs Office Supplies Personnel Postage & Deliveries Professional Fees Property Tax Rent School Supplies Taxes Telephone Training Travel Utilities Total Expenses Net Income (Loss) Cost/FTE Budget Budget Budget Budget Q1 02 Q3 04 31 375 0 79 16,425 534 0 1,098 0 1,140 0 3,750 300 31,433 77,500 98,397 116,058 113,535 405,490 0 0 2,745 14,664 600 1,650 1,275 0 0 39 3,000 79,068 375 0 101 16,425 534 0 1,405 650 1,140 0 3,750 300 45,072 0 0 46 600 1,650 1,275 300 0 3,000 93,986 375 0 119 16,425 534 0 1,664 100 1,140 0 3,750 300 46,245 2,745 2,745 14,664 14,664 0 0 45 375 500 126 16,425 534 0 1,772 0 1,140 0 3,750 300 55,405 0 0 2,745 14,664 600 600 1,650 1,650 1,275 1,275 200 0 0 0 Budget Year 3,000 3,000 94,786 104,261 40.25 1,500 500 425 65,700 2,136 0 5,939 750 4,560 0 15,000 1,200 178,155 0 0 10,980 58,656 2,400 6,600 5,100 500 0 12,000 372,101 (1,568) 4,411 21,272 9,274 33,389 2550.581 2409.897 2060.565 2316.911 9244.745