Cost Estimation, High-Low Method; MAPE Ethan Manufacturing Inc. produces floor mats for automobiles. The owner,...
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Accounting
Cost Estimation, High-Low Method; MAPE Ethan Manufacturing Inc. produces floor mats for
automobiles. The owner, Joseph Ethan, has asked you to assist in estimating maintenance costs.
Together, you and Joseph determine that the single best cost driver for maintenance costs is
machine-hours. These data are from the previous fiscal year for maintenance expense and
machine-hours:
Month Maintenance Expense Machine-Hours
1 $2,600 1,690
2 2,760 1,770
3 2,910 1,850
4 3,020 1,870
5 3,100 1,900
6 3,070 1,880
7 3,010 1,860
8 2,850 1,840
9 2,620 1,700
10 2,220 1,100
11 2,230 1,300
12 2,450 1,590
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You can see the logs in the Dashboard.