Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i just need to know formulas and how to get the answers. i have the answer key 6) If production increases by 25%, how will

i just need to know formulas and how to get the answers. i have the answer key image text in transcribed
image text in transcribed
6) If production increases by 25%, how will total fixed costs likely react? A) Decrease by 25% B) Increase by 25% C) Increase by 12.5% D) Remain the same 7) 7) Great Calls has a special plan offer this month. There is a $3.00 per month charge each month and calls anywhere in the United States are $0.03 per minute. What would the monthly cost be if you typically talk for 750 minutes per month? A) $25.50 B) $19.50 C) $22.50 D) $3.00 8) 8) Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis showed the following information (note: only a portion of the regression analysis results is presented here): SUMMARY OUTPUT Regression Statistics Multiple R 0.991108748 R Square 0.982296551 Adjusted R Square 0.977870689 Standard Error 67.58593536 Observations ANOVA Significance F 0.00011823 Regression Residual Total 5 SS MS F 1013811.8991013811.899 221.9446735 18271.43463 4567.858659 1032083.333 1032089. Standard Error Staf P-value 1 94.105844 15.17701095 0.000109885 0.04823467 14.89780767 0.00011823 L ower 95% 2407.022299 0.584669919 Coefficients 2945.94652 0.718590832 Intercept X Variable 1 What is the fixed cost (round to nearest cent)? A) $0.72 B) $67.59 C) $2,945.95 D) $0.99 6) If production increases by 25%, how will total fixed costs likely react? A) Decrease by 25% B) Increase by 25% C) Increase by 12.5% D) Remain the same 7) 7) Great Calls has a special plan offer this month. There is a $3.00 per month charge each month and calls anywhere in the United States are $0.03 per minute. What would the monthly cost be if you typically talk for 750 minutes per month? A) $25.50 B) $19.50 C) $22.50 D) $3.00 8) 8) Valle Crucis Corporation wanted to determine the relationship between its monthly operating costs and a potential cost driver, machine hours. The output of a regression analysis showed the following information (note: only a portion of the regression analysis results is presented here): SUMMARY OUTPUT Regression Statistics Multiple R 0.991108748 R Square 0.982296551 Adjusted R Square 0.977870689 Standard Error 67.58593536 Observations ANOVA Significance F 0.00011823 Regression Residual Total 5 SS MS F 1013811.8991013811.899 221.9446735 18271.43463 4567.858659 1032083.333 1032089. Standard Error Staf P-value 1 94.105844 15.17701095 0.000109885 0.04823467 14.89780767 0.00011823 L ower 95% 2407.022299 0.584669919 Coefficients 2945.94652 0.718590832 Intercept X Variable 1 What is the fixed cost (round to nearest cent)? A) $0.72 B) $67.59 C) $2,945.95 D) $0.99

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_2

Step: 3

blur-text-image_3

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

Glomont Auditing And Attestation AICPA Released Questions CPA Exam Review 2022

Authors: Glomont, American Institute Of Certified Public Accountants, AICPA

1st Edition

B0BF31GQMC, 979-8353524045

More Books

Students also viewed these Accounting questions

Question

2. What are the different types of networks?

Answered: 1 week ago