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Georgla Meadows Company uses the high-low method to analyze production costs. The following information relates to the production data for the first six months of
Georgla Meadows Company uses the high-low method to analyze production costs. The following information relates to the production data for the first six months of the year, Month January February March April May June Cost(Y) Hours (H) $ 8,842 6,560 $ 8,000 5,970 $10,000 7,530 $ 7,685 5,720 $ 7,500 5,530 $ 9,383 6,770 How should the cost function be properly stated using the high-low method? (Round variable cost per unit to 2 decimal places and total fixed cost to the nearest whole dollar.)
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