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Murphy corporation has the following data pertaining to

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Murphy Corporation has the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Murphy Corporation has decided to use a method of measuring cost functions called the high-low method in this situation.

Month Cost Hours

  • January $37,000 3,550
  • February 24,400 2,000
  • March 36,280 2,540
  • April 41,400 3,110
  • May 44,160 3,900
  • June 40,240 3,840

What would be the cost estimation equation, using Y for total costs and X for hours?

Reference no: EM13598626

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