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Michael Scott works as a cost analyst for mid-size paper company. He collected the following information concerning the operations of the Machine Department
Observation Machine Hours Total Operating costs
January 4,000 $45,000
February 4,600 $ 49,500
March 3,800 $45,750
April 4,400 $48,000
May 4,500 $49,800
please find
Question a) Use the high-low method to determine the estimating cost function with machine- hours as the cost driver.
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