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X Company's accountant uses the high-low method to determine the parameters of the company's monthly overhead cost function, with units produced as the independent variable.
X Company's accountant uses the high-low method to determine the parameters of the company's monthly overhead cost function, with units produced as the independent variable. She has the following past monthly observations to work with:
Units Produced | Cost |
6500 | 30882 |
8900 | 36714 |
6900 | 31932 |
7600 | 34990 |
8600 | 35714 |
7900 | 34664 |
X Company estimates that 9,300 units will be produced in July. What are estimated fixed overhead costs for July [round variable costs per unit to two decimal places]?
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