The cafeteria at X Company has incurred the following costs and number of meals served from January through June:
Month |
Cost |
Meals |
January |
$28,200 |
7,700 |
February |
33,300 |
9,500 |
March |
38,700 |
10,800 |
April |
47,900 |
10,000 |
May |
38,000 |
10,200 |
June |
36,500 |
8,500 |
X Company estimates that 9,900 meals will be served in July. Using the high-low method to determine the monthly cost function, what are estimated total costs for July (round variable costs per unit to three decimal places and your final answer to the nearest dollar)?