The Bovise Company has assembled the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Bovise Company has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation.

Month Cost Hours

January $40,000 3,600

February 38,500 3,000

March 36,280 3,300

April 38,000 3,500

May 69,850 5,850

June 45,000 4,250

How is the cost function stated

y = $5,500 + $11X

y = $26,672 + $11.94X

$1,360 + $11.37

y = $31,350 + $12.83X