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Estimate the cost formula for overhead cost

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Reference no: EM131807357

Problem - The Company wants to break down the overhead cost into its basic variable and fixed cost elements. Management would like you to analyze their overhead costs as a function of machine hours using the high-low method, which is listed below:

 

Machine Hrs

OH Cost

Month

x

y

Jan

62

2,107

Feb

62

2,040

Mar

120

2,916

Apr

71

2,332

May

50

1,896

Jun

95

2,471

Jul

142

3,105

Aug

86

2,316

Sep

112

2,555

Oct

136

2,780

Nov

85

2,061

Dec

103

2,910

Jan

96

2,835

Feb

101

2,715

Mar

53

1,986

Requirements - (Round off the variable cost per direct labor hour to the nearest cent and the fixed cost per month to the nearest dollar.) Show your work.

Use the high-low method to estimate the cost formula for overhead cost?

Reference no: EM131807357

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