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I need help with this managerial accounting question!!! Q3 ABC Company produces hand-held calculators. The company wants to calculate the fixed and variable costs associated
I need help with this managerial accounting question!!! Q3
ABC Company produces hand-held calculators. The company wants to calculate the fixed and variable costs associated with the maintenance cost incurred by the factory. Data for the past four months were collected: Maintenance Machine Costs Hours June $ 4,180.00 328 July $ 3,956.00 313 August $ 4,686.00 386 September $ 4,240.00 352 Coefficients shown by a regression program are: Intercept X Variable 1 a) 986.50 9.68 Required: Using the results of regression, compute the fixed cost of maintenance. (1 Mark) b) Using the results of regression, compute the variable cost of maintenance. (1 Mark) c) Using the results of regression, construct the cost formula for maintenance cost. (1 Mark)Step by Step Solution
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