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how would i this question using the scattergraph method? the following monthly cost data related to production equipment this is the same data as the

image text in transcribedhow would i this question using the scattergraph method?
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the following monthly cost data related to production equipment this is the same data as the previous Reporting Period (Month) Total Costs Machine Hours exercise): January February March April May June July August September October November December Required: $920,000 600,000 500,000 1,100,000 1,140,000 620,000 880,000 910,000 1,060,000 960,000 45,000 25,000 20,000 90,000 95,000 30,000 38,000 48,000 1,400,000 980,000 78,000 51,000 96,000 54,000 a. Use the five steps of the scattergraph method to estimate total fixed costs per month and the variable cost per machine hour. State your results in the cost equation form Y = f + vX by filling in the dollar amounts for fand v. b. What would Castilla Company's estimated costs be if it used 50,000 machine hours next month? c What would Castilla Company's estimated costs be if it used 15,000 machine hours next month? fummon culinn in the following output 2 N Round v to the nearest cent and all 37. a. Scattergraph Method (continued) other amounts to the nearest dollar, Step 3: Estimate the total fixed costs(). Assume your estimate for total fixed costs is $450,000. 5 6 10 11 12 13 14 15 YU Step 4: Calculate the variable cost per unit (v); units are measured in machine hours. From part a above, assume your estimate for total fixed costs is $450,000, and that your line in step 2 went through the data point with total costs of $1,060,000 and 78,000 machine hours (September data point). Calculate the variable cost per unit rounded to the nearest cent and input your answer below. Incorrect 17 18 19 20 21 22 23 24 20 Variable cost per unit (rounded to the nearest cent) Step 5: State the results in equation form Y = 8+ vX. b. Using the equation from above, substitute machine hours for X and solve for Y: 50,000_hours) 26 27 Y Incorrect 29 30 c. Using the equation from part a, substitute machine hours for X and solve for Y: 32 Y 15,000 hours) 33 Y Incorrect 35 36 38 39 40 41 42 43 44

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