Solution-Estimate a cost formula for custodial supplies

Estimate a cost formula for custodial supplies expense

Reference no: EM131591110

Question - High-Low Method; Predicting Cost

The Lakeshore Hotel's guest-days of occupancy and custodial supplies expense over the last seven months were:

Month	Guest-Days of Occupancy	Custodial Supplies Expense
March	8,000	$12,800
April	7,500	$12,400
May	10,000	$14,400
June	11,500	$15,600
July	13,500	$17,200
August	12,500	$16,400
September	10,000	$14,400

Guest-days is a measure of the overall activity at the hotel. For example, a guest who stays at the hotel for three days is counted as three guest-days.

Required: Using the high-low method, estimate a cost formula for custodial supplies expense.

Reference no: EM131591110

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Estimate a cost formula for custodial supplies expense

Reference no: EM131591110

Reference no: EM131591110

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