Taunton Company uses the highminuslow method to estimate its cost function. The information for 2017...
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Accounting
Taunton Company uses the
highminuslow
method to estimate its cost function. The information for 2017 is provided below:
| Machineminushours | Labor Costs | ||
| Highest observation of cost driver | 3 comma 5003,500 | $ 339 comma 500$339,500 | |
| Lowest observation of cost driver | 2 comma 5002,500 | $ 250 comma 000$250,000 |
What is the constant for the estimated cost equation?
A. $250,000
B. $339,500
C. $26,250
D. $ 313250
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