Question
The following information is available for a companys maintenance cost over the last seven months. Month Maintenance Hours Maintence cost June 20 $6,020 July 48
The following information is available for a companys maintenance cost over the last seven months.
Month Maintenance Hours Maintence cost
June 20 $6,020
July 48 8,100
August 24 5,100
September 38 7,000
October 42 6,900
November 36 6,900
December 12 3,600
1-Using the high-low method, estimate both the fixed and variable components of its maintenance cost. (No answer needed, Just added for information)
2-Show the cost function formula for monthly maintenance costs.
The question has 2 part
part 1 using the high low methos estimate both the fixed and variable components of its maintance cost I have already solved for its part 2 i dont understand how to do.
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