Question: Midgett Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. The cost behavior pattern of the maintena regression

Midgett Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. The cost behavior pattern of the maintena regression be employed to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the las Maintenance Machine Month Cost Hours Jan. 5,050 720 Feb. 3,649 430 Mar. 4,260 3,326 580 Apr- 420 May 5,212 730 3,650 3,633 June 350 July 350 Aug. 5,351 600 Sept. 5,107 4,854 3,949 3,970 $ 52,011 630 Oct. 690 Nov. 420 Dec. 350 Sum 6,27e Average $4,334.25 522.50 Average cost per hour ($52,011/6.270) $8.30 r 0.88520 078358 Using the high-low method, total maintenance cost for 800 hours is calculated to be (Do not round intermediate calculations. Round your answer tw Multiple Choice

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