i Data Table Quarter 1/06 Production Overhead in Units Costs 74 $ 717 711 644 1,126 2/06 ne vari 3/06 4/06 1/07 2/07 3/07 997 1,107 1,115 1,038 987 4/07 prhead 1/08 1,062 992 953 2/08 3/08 4/08 1/09 2/09 3/09 831 1,046 987 Print Done % P3-46 (similar to) Question Help On November 15, 2009, Sandra Cook, a newly hired cost analyst at Benson Company, was asked to predict overhead costs for the company's operations in 2010, when 515 units are expected to be produced. She collected the following quarterly data: (Click the icon to view the quarterly data.) Requirements 1. Using the high-low method to estimate costs, prepare a prediction of overhead costs for 2010. 2. Sandy ran a regression analysis using the data she collected. The result was: Y = $344 + $5.76X Using this cost function, predict overhead costs for 2010. 3. Which prediction do you prefer? Why? Requirement 1. Using the high-low method to estimate costs, prepare a prediction of overhead costs for 2010 Begin by estimating the cost function for a quarter year using the high-low method. (Enter the quarterly fixed cost rounded to two decimal places and the variable cost rounded to four decimal places.) Y = $ 132.34 + $ 7.4154' x (Round your answer to two decimal places.) Using the high-low method, the predicted overhead costs for 2010 is $ 4,348.29. Requirement 2. Sandy ran a regression analysis using the data she collected. The result was: Y = $344 + $5.76X. Using this cost function, predict overhead costs for 2010. (Round your answer to two decimal places.) The predicted overhead costs for 2010 is $]. i Data Table Quarter 1/06 Production Overhead in Units Costs 74 $ 717 711 644 1,126 2/06 ne vari 3/06 4/06 1/07 2/07 3/07 997 1,107 1,115 1,038 987 4/07 prhead 1/08 1,062 992 953 2/08 3/08 4/08 1/09 2/09 3/09 831 1,046 987 Print Done % P3-46 (similar to) Question Help On November 15, 2009, Sandra Cook, a newly hired cost analyst at Benson Company, was asked to predict overhead costs for the company's operations in 2010, when 515 units are expected to be produced. She collected the following quarterly data: (Click the icon to view the quarterly data.) Requirements 1. Using the high-low method to estimate costs, prepare a prediction of overhead costs for 2010. 2. Sandy ran a regression analysis using the data she collected. The result was: Y = $344 + $5.76X Using this cost function, predict overhead costs for 2010. 3. Which prediction do you prefer? Why? Requirement 1. Using the high-low method to estimate costs, prepare a prediction of overhead costs for 2010 Begin by estimating the cost function for a quarter year using the high-low method. (Enter the quarterly fixed cost rounded to two decimal places and the variable cost rounded to four decimal places.) Y = $ 132.34 + $ 7.4154' x (Round your answer to two decimal places.) Using the high-low method, the predicted overhead costs for 2010 is $ 4,348.29. Requirement 2. Sandy ran a regression analysis using the data she collected. The result was: Y = $344 + $5.76X. Using this cost function, predict overhead costs for 2010. (Round your answer to two decimal places.) The predicted overhead costs for 2010 is $]