Determine the parameters of the cost function

Reference no: EM132088127

Question: X Company has the following data from 2015 and 2016:

	2015	2016
Total costs	$255,500	$398,500
Units produced	31,000	53,000

Expected production in 2017 is 43,500 units. Using the high-low method with the 2015 and 2016 data to determine the parameters of the cost function, what are estimated total costs in 2017 [round intermediate unit costs to the nearest cent]?

Reference no: EM132088127

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