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Estimate the total repair cost for July

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Reference no: EM132992174

Question - The following information is available regarding the total repair costs of Alexander Design Company for six months of 2018:

 

Units Produced

Repair Cost

January

1,500

$15,875

February

1,750

$16,500

March

1,000

$11,250

April

1,250

$15,250

May

1,875

$17,750

June

2,250

$20,250

Required - Using the high-low method, compute the following:

(1) Calculate the cost function.

(2) Use the cost relationship determined in required (1) to estimate the total repair cost for July 2018, given that production is scheduled for 2,300 units.

(3) What is the difference between using the High - low method and Least Square (Regression) method.

Reference no: EM132992174

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