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Question - Jaskier's Guitars and Lutes produces guitars and other stringed instruments for expert musicians across the world. The following data is available for the most recent six months of production.
Month
Direct Labour hours
Manufacturing Overhead Cost
April
5,590
12,500
May
10,300
9,600
June
6,000
7,160
July
3,225
6,340
August
4,000
5,170
September
2,600
6,980
Required -
a) Calculate the cost equation for manufacturing overhead using the high-low method.
b) For a month in which 7,000 direct labour hours went into producing guitars, estimate the cost of manufacturing overhead.
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