Month January February March April May June July August September October November December Totals Labor Hours 1,262 962 1,318 1,280 942 1,188 1,114 1,006 1,344 1,196 760 792 13,164 Machine Hours 1,752 $ 1,362 $ 2,238 $ 2,205 $ 2,013 $ 2,205 $ 1,845 $ 1,773 $ 1,641 $ 1,971 $ 1,752 $ 2,229 $ 22,986 $ OH Costs 221,304 189,758 223,883 230,335 214,621 219,848 206,957 204,047 217,754 221,287 194,962 198,559 2,543,313 Units Mfg'd 5,256 4,086 6,714 6,615 5,652 6,615 5,535 5,319 4,923 5,913 4,560 4,752 65,940 Max Min 1,344 760 584 69.480 $ 2,238 $ 1,362 $ 876 46.320 230,335 $ 189,758 $ 40,576 6,714 Use the blue area 4,086 to show your 2,628 high-low calculations $ VC FC The following assumptions apply unless an alternative is specifically given in a question i) The Sales Price per unit ii) Direct materials and direct labor costs per unit. iii) Variable General and Administrative costs per unit. iv) Fixed General and Administrative costs per month. v) Marginal tax rate on Income $ $ $ 74.00 19.00 14.00 350,000 21% Regression Statistics Multiple R 0.937331 R Square 0.878589 Adjusted R 0.851609 Standard E 4935.944 Observatic 12 ANOVA Regressior Residual Total df SS MS F gnificance F 2 1.59E+09 7.93E+08 32.56415 7.57E-05 9 2.19E+08 24363547 11 1.81E+09 Coefficientsandard Erre t Stat P-value Lower 95% Upper 95% ower 95.09/pper 95.0% Intercept 119827.7 12332.86 9.716131 4.55E-06 91928.8 147726.5 91928.8 147726.5 Labor Hout 48.85821 7.475431 6.535838 0.000107 31.94761 65.76881 31.94761 65.76881 Machine H 20.10841 5.437913 3.697817 0.004937 7.806992 32.40982 7.806992 32.40982 In order to complete the remaining questions use the regression capabilities of Excel to estimate the following cost equation: Monthly OH = b0 + b1 x labor hours + b2 x machine hours Based on the results, what is the estimate of monthly fixed manufacturing OH costs? Q16 What is the estimate of variable OH costs per labor hour? Q17 What is the estimate of variable OH costs per machine hour? Q18 What are the estimated total OH costs for an average month based on the cost model? Q19 If output where 10% higher than average what is your estimate of total Mfg OH Costs? Q20 If output where 15% higher than average what is your estimate of the contribution margin per unit? Q21 Month January February March April May June July August September October November December Totals Labor Hours 1,262 962 1,318 1,280 942 1,188 1,114 1,006 1,344 1,196 760 792 13,164 Machine Hours 1,752 $ 1,362 $ 2,238 $ 2,205 $ 2,013 $ 2,205 $ 1,845 $ 1,773 $ 1,641 $ 1,971 $ 1,752 $ 2,229 $ 22,986 $ OH Costs 221,304 189,758 223,883 230,335 214,621 219,848 206,957 204,047 217,754 221,287 194,962 198,559 2,543,313 Units Mfg'd 5,256 4,086 6,714 6,615 5,652 6,615 5,535 5,319 4,923 5,913 4,560 4,752 65,940 Max Min 1,344 760 584 69.480 $ 2,238 $ 1,362 $ 876 46.320 230,335 $ 189,758 $ 40,576 6,714 Use the blue area 4,086 to show your 2,628 high-low calculations $ VC FC The following assumptions apply unless an alternative is specifically given in a question i) The Sales Price per unit ii) Direct materials and direct labor costs per unit. iii) Variable General and Administrative costs per unit. iv) Fixed General and Administrative costs per month. v) Marginal tax rate on Income $ $ $ 74.00 19.00 14.00 350,000 21% Regression Statistics Multiple R 0.937331 R Square 0.878589 Adjusted R 0.851609 Standard E 4935.944 Observatic 12 ANOVA Regressior Residual Total df SS MS F gnificance F 2 1.59E+09 7.93E+08 32.56415 7.57E-05 9 2.19E+08 24363547 11 1.81E+09 Coefficientsandard Erre t Stat P-value Lower 95% Upper 95% ower 95.09/pper 95.0% Intercept 119827.7 12332.86 9.716131 4.55E-06 91928.8 147726.5 91928.8 147726.5 Labor Hout 48.85821 7.475431 6.535838 0.000107 31.94761 65.76881 31.94761 65.76881 Machine H 20.10841 5.437913 3.697817 0.004937 7.806992 32.40982 7.806992 32.40982 In order to complete the remaining questions use the regression capabilities of Excel to estimate the following cost equation: Monthly OH = b0 + b1 x labor hours + b2 x machine hours Based on the results, what is the estimate of monthly fixed manufacturing OH costs? Q16 What is the estimate of variable OH costs per labor hour? Q17 What is the estimate of variable OH costs per machine hour? Q18 What are the estimated total OH costs for an average month based on the cost model? Q19 If output where 10% higher than average what is your estimate of total Mfg OH Costs? Q20 If output where 15% higher than average what is your estimate of the contribution margin per unit? Q21