Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Leslie Sporting Goods is a locally owned store that specializes in printing team jerseys. The majority of its business comes from orders for various local

Leslie Sporting Goods is a locally owned store that specializes in printing team jerseys. The majority of its business comes from orders for various local teams and organizations. While Leslies prints everything from bowling team jerseys to fraternity/sorority apparel to special event shirts, summer league baseball and softball team jerseys are the companys biggest source of revenue.

A portion of Leslies operating information for the companys last year follows:

Month Number of Jerseys Printed Operating Cost
January 215 $ 5,500
February 210 5,740
March 380 5,800
April 625 8,675
May 750 9,000
June 630 9,760
July 400 6,200
August 350 6,155
September 300 5,980
October 330 6,010
November 200 4,950
December 150 4,500

image text in transcribed

Required 3. Using the high-low method, calculate the store's total fixed operating costs and variable operating cost per jersey. (Round your "Variable Cost answer to 2 decimal places and "Fixed Cost answer to the nearest whole number.) 8.77 Fixed Cost 3,185 4. Using the high-low method results, calculate the store's expected operating cost if it printed 480 jerseys Round your answer to the nearest whole number.) Total Cost 5. Perform a least-squares regression analysis on Leslie's data. (Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression.Round your answers to 2 decimal places.) Coeificients X Variable 1 6. Using the regression output, create a linear equation (y = a + bx) for estimating Leslie's operating costs. Round your answers to 2 decimal places.) (Number of Total Cost al Coa1- 7. Using the least-squares regression results, calculate the store's expected operating cost if it prints 825 jerseys. (Round your intermediate calculations and final answer to 2 decimal places.) Total Cost

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

The Major Accounting Firms Understanding The Role Of Global Auditing Giants

Authors: Seth Nashe

1st Edition

B0CGKZ5Y2Q, 979-8859081318

More Books

Students also viewed these Accounting questions