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Compute what would murphy corporation total estimated cost

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Question - 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 Murphy Corporation's total estimated cost be if it operated at 2,950 hours?

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

Reference no: EM131807092

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