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4 5 1 Book Ethan Manufacturing Incorporated produces floor mats for automobiles. The owner, Joseph Ethan, has asked you to assist in estimating maintenance costs
4 5 1 Book Ethan Manufacturing Incorporated produces floor mats for automobiles. The owner, Joseph Ethan, has asked you to assist in estimating maintenance costs Together, you and Joseph determine that the single best cost driver for maintenance costs is machine hours. These data ate from the previous fiscal year for maintenance costs and machine hours Month Maintenance costs Machine Hours $ 2,650 1,740 2,810 1,820 3 2,960 1,900 3,070 1,920 3,150 1,950 3,120 1,930 3,060 1,910 2.900 1,890 9 2,670 1,750 2,270 1,150 2,280 1,350 12 2,500 1,640 Required: 1 What is the cost equation for maintenance costs using the high low method? 2. Calculate the mean absolute percentage error (MAP) for the cost equation you developed in requirement 1 R Paint 10 11 References Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the cost equation for maintenance costs using the high-low method? (Round slope (unit variable cost)" to 2 decigal places. Include ouders in your calculations.) Mainance costs 110 x M Machine Hours Required 2 >
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