Question $9$

$0\mathrm{.}5$ pts

Cool Box Incorporated needs to prepare pro forma financial statements for the next fiscal year. To do so$,$ the company must forecast its total overhead cost. The actual machine hours and total overhead cost are presented below for the past six months.

$\backslash$table$[[$Month$,$Total Overhead,Machine Hours$],[$January $$8,258,2,134,],[$February $8,006,2,045,],[$March $8,387,2,276,],[$April $8,832,2,743,],[$May $8,921,2,834,],[$June $7,841,2,034,]]$

Using the high$-$low method, total monthly fixed overhead cost is calculated to be:

$$5,095\mathrm{.}10$

$$5,96<mn\; id="EditorElement\_1178525">4</mn><mn\; id="EditorElement\_1178526">0</mn>$

$$5,875\mathrm{.}30$

$$5,661\mathrm{.}90$

$$5,462\mathrm{.}80$