What would be the cost estimation equation, Accounting Basics

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What would be the cost estimation equation

Murphy Corporation has the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Murphy Corporation has decided to use a method of measuring cost functions called the high-low method in this situation.

Month Cost Hours

January $37,000 3,550
February 24,400 2,000
March 36,280 2,540
April 41,400 3,110
May 44,160 3,900
June 40,240 3,840

What would be the cost estimation equation, using Y for total costs and X for hours?

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Accounting Basics: What would be the cost estimation equation

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Recent Questions Asked Accounting Basics

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Ask an Expert for Answer!!

Accounting Basics: What would be the cost estimation equation

Reference No:- TGS0706126

Recent Questions Asked Accounting Basics

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