Question
2 a) A production manager concerned about the relationship of machine hours and indirect labour cost. Estimate the following data to help manager the unit
2 a) A production manager concerned about the relationship of machine hours and indirect labour cost. Estimate the following data to help manager the unit properly in future. The results are as shown below.
| Week | Machine Hour | Indirect Labour (cost) |
| 1 | 68 | 1190 |
| 2 | 88 | 1211 |
| 3 | 62 | 1004 |
| 4 | 72 | 917 |
| 5 | 60 | 770 |
| 6 | 96 | 1456 |
| 7 | 78 | 1180 |
| 8 | 46 | 710 |
| 9 | 82 | 1316 |
| 10 | 94 | 1032 |
| 11 | 68 | 752 |
| 12 | 48 | 963 |
Required: Using least square method;
- Establish the regression function for the manager. (6 Marks)
- Using the functions determine the indirect labour cost at 35 units and 90 units of machine hours. (6 Marks)
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Internal Audit And Risk Management In Companies Assessing The Contribution Of Internal Audit To An Entitys Risk Management
Authors: Akaffou Arnaud Lucien Goley
1st Edition
6204604805, 978-6204604800
