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The Rexburg Company has assembled the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Rexburg has
The Rexburg Company has assembled the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Rexburg has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation. (Click the icon to view the assembled data.) Read the requirements. Requirements a. What is the slope coefficient? b. What is the constant for the estimated cost equation? c. What is the estimated cost function for the above data? d. What is the estimated total cost at an operating level of 3,200 hours? Print Done Data table Month Cost Hours January $ 37,100 3,500 February 35,600 2,900 March 33,380 3,200 April 35,100 3,400 May 67,100 6,050 June 42,100 4,150 Print Done - X
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