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Determine the estimated variable overhead cost per hour

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Reference no: EM132571590

Jack Williams is estimating the monthly overhead costs of his law firm as a function of the total number of hours worked. Using the scattergraph and visual fit method, he plots the costs and hours for the past 12 months. He draws a line to fit the data, and from this, he reads the Y-intercept as $18,000. Then, he picks a point on the line which corresponds to $29,000 and 195 hours.

Question 1: Determine the estimated variable overhead cost per hour

Reference no: EM132571590

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