X Company's accountant uses the high-low method to determine the parameters of the company's monthly overhead cost function, with units produced as the independent variable. She has the following past monthly observations to work with:
Units Produced | Cost |
6,900 | $32,796 |
8,450 | 36,171 |
8,050 | 35,021 |
6,400 | 31,346 |
8,900 | 37,471 |
7,450 | 34,967 |
X Company estimates that 9,500 units will be produced in July. What are estimated fixed overhead costs for July [round variable costs per unit to two decimal places]?
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