Nantucket marine supply is a wholesaler for a large variety of boating and fishing equipment. the company’s controller, alan denney, has recently completed a cost study of the firm’s material-handling department. the activity measure (independent variable) used in the study was hundreds of pounds of equipment loaded or unloaded at the company’s loading dock. denney compiled the following data.

units of activity
month (hundreds of pounds of
equipment loaded or unloaded) material-handling
department costs
january 1,800 $ 11,700
february 1,600 11,300
march 1,300 11,250
april 1,000 10,200
may 2,200 11,100
june 2,400 12,550
july 2,000 12,000
august 1,800 11,400
september 2,600 12,120
october 1,100 11,050
november 1,200 11,350
december 1,400 11,350

required:
5.
estimate the material-handling department’s cost behavior using the high-low method. use an equation to express the results of this estimation method. (round coefficient of x to 2 decimal places.)