Answered step by step
Verified Expert Solution
Link Copied!

Question

00
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

image text in transcribedimage text in transcribedimage text in transcribed

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 Leslie's prints everything from bowling team jerseys to fraternity/sorority apparel to special event shirts, summer league baseball and softball team jerseys are the company's biggest source of revenue. A portion of Leslie's operating information for the company's last year follows: Month January February March April May 1 June July uy Number of Jerseys Printed 185 220 200 - 575 630 685 430 320 375 280 270 195 Operating Cost $4,845 5,865 5,755 8,655 9,270 9,789 6,225 6,010 6,135 5,970 5,920 4,960 August September October November December Required: 3. Using the high-low method, calculate the store's total fixed operating costs and variable operating cost per jersey. (Do not round your intermediate calculations. Round your "Variable Cost" answer to 2 decimal places and "Fixed Cost" answer to the nearest whole number.) $ 9.87 Variable Cost per Jersey Fixed Cost $ 3,019 4. Using the high-low method results, calculate the store's expected operating cost if it printed 480 jerseys. (Do not round your intermediate calculations. Round your answer to the nearest whole number.) Total Cost S 7,757 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.) Coefficients Intercept 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.) Total Cost = (Number of Jerseys) 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.) Coefficients Intercept 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.) Total Cost = (Number of Jerseys) 7. Using the least-squares regression results, calculate the store's expected operating cost if it prints 645 jerseys. (Round your intermediate calculations to 2 decimal places. Round your 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 with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions