The controller of Brandon Co has requested a quick estimate of the manufacturing supplies needed for August when production is expected to be 480,000 units. Below are actual data from the prior four months of operations:
Production in units
Manufacturing supplies
March
425,000
$700,120
April
500,000
$840,250
May
475,000
$824,770
June
415,000
$705,950
Using these data and the high-low method, what is the best estimate of the cost of manufacturing supplies that would be needed for August? (Assume that this activity is within the relevant range.)