Patrick Ross, the president of Ross's Wild Game Company, has asked for information about the cost behavior of manufacturing overhead costs. Specifically, he wants to know how much overhead cost is fixed and how much is variable. The following data are the only records available:
Required:
Using the high-low method, determine the overhead cost equation. Use machine-hours as your cost driver.
Definitions:
Business Person
An individual who engages in activities related to the purchase, sale, or exchange of goods or services with the intent of generating profit.
Tort Standards
Legal criteria or benchmarks used to evaluate the actions of individuals or entities in tort cases, typically relating to negligence or harm.
Legislation
The act of making or enacting laws.
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