Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority

Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it sells in gallon-size bottles with a spray attachment. The majority of Garfield's business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfield's operating information for the first six months of the year follows: Number of Operating Month January February March April May June Bottles Sold Cost 990 $10,470 1,340 15,760 1,830 15,910 2,370 19,870 3,440 27,570 3,640 34,790 Required: 3. Using the high-low method, calculate Garfield's total fixed operating costs and variable operating cost per bottle. (Do not round your intermediate calculations. Round your variable cost per unit answer to 2 decimal places and fixed cost answer to the nearest whole number.) Variable Cost per Unit Fixed Cost S 9.18 $ 31,150 4. Perform a least-squares regression analysis on Garfield's data. (Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 3 decimal places.) Intercept X Variable 11 Coufficients 5. Determine how well this regression analysis explains the data. (Round you regression statistics to three decimal places and your percentage answer to the nearest whole number Multiple R RS Regression Statistics Adjusted It Square Standard Eme Observations From the regression output sumber st of the variabilly Gard's total co 6. Using the regression output, create a linear cost equation (y a + bx) for estimating Garfield's operating costs. (Round your answers to 3 decimal places.) Cost (Number of Boldes)

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

Becoming An Unstoppable Woman In Finance 29 Strategic Financial Experts

Authors: Hanna Olivas, Adriana Luna Carlos, Heather Stokes, Lisa Chastain, Jennifer Lara, Shannon Lavenia, Althia Lopez, Heather Jackson, Annette Morris, Rebecca Chandler

1st Edition

979-8986936703

More Books

Students also viewed these Accounting questions