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Question 2 A small business, Petal White wants to estimate its monthly utility costs...

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Accounting

Question 2
A small business, Petal White wants to estimate its monthly utility costs based on the number of employees.
The business has collected data for the past 12 months, as shown in the table below:
\table[[Month,Number of Employees,Monthly Utility Cost (RM)],[Jan,10,800],[Feb,12,850],[Mar,11,820],[Apr,13,880],[May,15,910],[Jun,14,900],[Jul,16,930],[Aug,17,950],[Sep,18,980],[Oct,19,1000],[Nov,20,1020],[Dec,21,1050]]
a. What is the semi-variable cost and the cost driver employed by Petal White? How much is the total utility cost?
(5 marks)
b. Perform the high-low method to estimate the variable cost per unit and total fixed costs of Petal White's production for the year. Please indicate the formula for high-low method. Keep your answer to the rounded figure.
(5 marks)
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