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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:

  1. Estimate the cost function for ABC using the high- low method.
  2. Predict maintenance costs if maintenance hours are 7,000 hours in January 2021.

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