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What is the cost formula for utility expenses

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Problem - Information about Indiana Industrial's utility cost for the last six months of 2010 follows. The high-low method will be used to develop a cost formula to predict 2011utility changes, and the number of machine hours has been found to be an appropriate cost driver. Data for the first half of 2010 are not being considered because the utility company imposed a significant rate change as of July 1, 2010.

Month Machine Hours Utility Cost

July 33,750 $13,000

August 34,000 $12,200

September 33,150 $11,040

October 32,000 $11,960

November 31,250 $11,500

December 31,000 $11,720

a. What is the cost formula for utility expenses?

b. What is the budgeted utility cost for September 2011 if 31,250 machine hours are projected?

Reference no: EM131793878

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