Q3. The following information drawn from ABC Corporation about maintenance costs in 2020. (1.5 Marks)...
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Accounting
Q3. The following information drawn from ABC Corporation about maintenance costs in 2020. (1.5 Marks)
| Month | Total maintenance costs (SR) | Maintenance hours |
| July | 75,000 | 5,000 |
| August | 81,000 | 5,500 |
| September | 63,000 | 4,000 |
| October | 51,000 | 3,000 |
| November | 87,000 | 6,000 |
| December | 84,600 | 5,800 |
Required:
- Estimate the cost function for ABC using the high- low method.
- Predict maintenance costs if maintenance hours are 7,000 hours in January 2021.
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