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Karl Miller, cost accountant at KMC Corporation, is examine the behavior of quarterly maintenance costs...

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Accounting

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Karl Miller, cost accountant at KMC Corporation, is examine the behavior of quarterly maintenance costs for being purposes. We believes in mare an effective and that can be used to estimate maintenence costs. Mueller collects the following data on machine hown worted and maintenance costs for the past one madhe Month Maintenance Costs Machine Hours Ianuary S 15,875 17,500 February $ 17,363 19,250 March S 9.269 18.375 April S 14,759 16,188 May $ 14,650 21,000 June $ 9,436 12.979 July $ 18.478 20,563 August $ 8,941 17,646 September S 9,426 18,725 REQUIRED: 1. Estimate the cost function for the monthly data using the high-low method 2. Miller anticipates KMC will operate machines for 15,000 hours in November. Calculate the predicted November utility costs using the cost function estimated in 1

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