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Question 1 A company's accountant is using the High-Low method to determine a cost equation for operating costs. The cost driver is determined to be

Question 1

A company's accountant is using the High-Low method to determine a cost equation for operating costs. The cost driver is determined to be labor hours. Month Labor Hours Total operating costs July 3,355 $5,334 August 3,850 $5,800 September 4,807 $6,314 October 3,600 $5,450 November 4,700 $6,200 December 4,250 $5,950 Determine the company's cost equation. What are estimated costs at 8,646 labor hours, using the equation? When calculating the variable cost per unit, DO NOT ROUND your variable cost per unit as you complete your calculations. Do not use dollar signs, commas or decimals in your answer. Input your answer to the nearest whole number

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