=+3-26 KK Manufacturing cost and regression analysis OBJECTIVES 4, 5 Jones Ltd manufactures a childrens bicycle, model

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=+3-26 KK Manufacturing cost and regression analysis OBJECTIVES 4, 5 Jones Ltd manufactures a children’s bicycle, model CT8. Jones Ltd currently manufactures the bicycle frame. During 2014, Jones Ltd made 32000 frames at a total cost of $1056000. Ryan Ltd has offered to supply as many frames as Jones Ltd wants at a cost of

$32.50 per frame. Jones Ltd anticipates needing 35000 frames each year for the next few years.

Required 1 a What is the average cost of manufacturing a bicycle frame in 2014? How does it compare to Ryan Ltd’s offer?

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