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Estimate the fixed and variable components

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Reference no: EM132507029

High Springs Service Company tracked its maintenance department costs as well as the number of machine hours operated each month for the last six months. The results were as follows:

Maintenance Machine

Month              Department            Costs Hours

March                  $64,192                     3,970

April                        65,056                    4,330

May                       64,648                      4,160

June                          65,488                  4,510

July                           65,656                   4,580

August                         65,320                   4,440

Question a. Estimate the fixed and variable components of the maintenance department costs.

Question b. Prepare the cost function.

Question c. If the number of machine hours in September was 4,250, what would be the prediction of total maintenance department costs for the month?

Reference no: EM132507029

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