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Murphy Corporation has the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Murphy Corporation has decided to use a method of measuring cost functions called the high-low method in this situation.

Month Cost Hours

January $37,000 3,550
February 24,400 2,000
March 36,280 2,540
April 41,400 3,110
May 44,160 3,900
June 40,240 3,840

What would be the cost estimation equation, using Y for total costs and X for hours?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9976203

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