Company X is attempting to develop the cost function for repair costs. The following past data are available for the fırst 4 months of the year: Month Machine Hours Repair Costs ($) 1 5,700 7,115 2 3,400 4,585 3 4,000 5,285 4 5,900 7,085 Using the high-low method, what is the estimated repair cost for 6,000 machine hours ($)? O a. None of the given answers O b. 7,185 7445

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Company X is attempting to develop the cost function for repair costs. The following past data are available for the first 4 months of
the year:
Month Machine Hours Repair Costs ($)
1
5,700
7,115
2
3,400
4,585
3
4,000
5,285
4
5,900
7,085
Using the high-low method, what is the estimated repair cost for 6,000 machine hours ($)?
O a.
None of the given answers
O b. 7,185
Oc.
7,445
O d. 5,685
O e. 5,795
Transcribed Image Text:Company X is attempting to develop the cost function for repair costs. The following past data are available for the first 4 months of the year: Month Machine Hours Repair Costs ($) 1 5,700 7,115 2 3,400 4,585 3 4,000 5,285 4 5,900 7,085 Using the high-low method, what is the estimated repair cost for 6,000 machine hours ($)? O a. None of the given answers O b. 7,185 Oc. 7,445 O d. 5,685 O e. 5,795
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