Q4. A plastic product is manufactured by SLT Company. For total costs, the company estimates...
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Q4. A plastic product is manufactured by SLT Company. For total costs, the company estimates the cost function. The number of units is the cost driver. The following details were gathered:
(2 Marks)
| Month | Units | Total Cost (SAR) |
| March | 4,370 | 44,300 |
| April | 4,680 | 44,600 |
| May | 5,000 | 45,000 |
| June | 5,300 | 45,400 |
| July | 5,600 | 47,500 |
| August | 5,900 | 57,500 |
| September | 3,400 | 40,000 |
| October | 4,100 | 40,625 |
Use the high-low analysis method and answer the following:
- Calculate Variable Costs and fixed costs.
- Determine the cost function.
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