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Adriana Corporation manufactures football equipment. Simple regression results from the data of Adriana Corporation are as follows: Equation: Overhead = $217,610 + ($88.61 Labor-hours) Statistical
Adriana Corporation manufactures football equipment. Simple regression results from the data of Adriana Corporation are as follows:
Equation: | |||||
Overhead = $217,610 + ($88.61 Labor-hours) | |||||
Statistical data | |||||
Correlation coefficient | 0.610 | ||||
R2 | 0.372 | ||||
Required:
Estimate overhead if the company expects the plant to operate at a monthly average of 3,000 labor-hours next year.
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