Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Determine the fixed costs and unit variable costs using regression analysis (We recommend the use of Excel.) (Round fured cost to 3 decimal places es.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Determine the fixed costs and unit variable costs using regression analysis (We recommend the use of Excel.) (Round fured cost to 3 decimal places es. 1.252 and variable cost to 5 decimal places es. 1.25125.) Fixed costs Unit variable costs $ /machine hour The controller of Cullumber Industries has collected the following monthly cost data for analyzing the behavior of electricity costs. \begin{tabular}{lcc} & \begin{tabular}{c} Total \\ Electricity Costs \end{tabular} & \begin{tabular}{c} Total \\ Machine Hours \end{tabular} \\ January & $2,370 & 230 \\ February & 3,100 & 370 \\ March & 3,460 & 450 \\ April & 4,540 & 695 \\ May & 3,240 & 400 \\ June & 4,960 & 770 \\ July & 4,150 & 625 \\ August & 3,910 & 510 \\ September & 5,000 & 665 \\ October & 4,270 & 610 \\ November & 3,280 & 370 \\ December & 6,050 & 790 \end{tabular} What electricity cost does the cost equation estimate for a level of activity of 450 machine hours? Round unit cost and finol answers to 2 decimal placeres. 1,250.25. Electricity costs By what amount does this differ from March's observed cost for 450 machine hours? (Round answer to 2 decinsi ploces es. 1.25) Amount differ

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

How To Beat The IRS At Its Own Game Strategies To Avoid And Fight An Audit

Authors: Amir D Aczel

1st Edition

1568580487, 978-1568580487

More Books

Students also viewed these Accounting questions