Question 17 Okafor Company manufactures skis. The management accountant wants to calculate the fixed and variable costs associated with the leasing of machinery. Data for the past four months were collected. Month April May June July Lease cost $21,000 16,500 19,000 22,230 Machine hours 550 O none of these are correct 420 510 570 What would Okafor Company's cost formula be to estimate the cost of leasing within the relevant range? total lease cost = $456+ ($38.20 x machine hours) total lease cost = $516+ ($38.18 x machine hours) total lease cost = $420 + ($37.25 x machine hours) 8 pts

Okafor Company manufactures skis. The management accountant wants to calculate the fixed and variable costs associated with the leasing of machinery. Data for the past four months were collected. What would Okafor Company's cost formula be to estimate the cost of leasing within the relevant range? total lease cost =$456+($38.20 machine hours ) total lease cost =$516+($38.18 machine hours ) total lease cost =$420+($37.25 machine hours ) none of these are correct