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ABC Company uses the high-low method to analyze cost behavior and has determined that machine hours best predict the company's total utilities cost. Determine the
ABC Company uses the high-low method to analyze cost behavior and has determined that machine hours best predict the company's total utilities cost. Determine the cost function (formula) for total utilities cost. What will the estimated utility cost be if ABC Company uses 1371 in a month?
Total Cost | Machine Hours | |
January | $3,410 | 1060 |
February | $3,790 | 1180 |
March | $3,574 | 1030 |
April | $3,730 | 1260 |
May | $4,500 | 1310 |
June | $4,294 | 1430 |
(Round your final answer to two decimal places)
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