Inspection costs at one of Ratulowski Corporation’s factories are listed below:
Units Inspection Produced Cost April 777 $10,176 May 807 $10,404 June 798 $10,355 July 835 $10,665 August 822 $10,542 September 795 $10,313 October 805 $10,409 November 853 $10,795 December 796 $10,310
Management believes that inspection cost is a mixed cost that depends on units produced. Using the high low method, create a cost formula for inspection cost. Round variable cost per unit (b) to two decimal places.