Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Month Maintenance Cost Machine Hours January $4,200 480 February $3,000 320 March $3,700 400 April $2,800 300 May $4,400 500 June $2,900 310 July $4,350

Month Maintenance Cost Machine Hours January $4,200 480 February $3,000 320 March $3,700 400 April $2,800 300 May $4,400 500 June $2,900 310 July $4,350 450 August $2,850 360 Budgeted Machine Hours for September are 400 MH. Simple regression output from Excel appears below: Regression Statistics Multiple R .95 R-Square .95 Standard Error 84.89 Coefficients p-value Intercept 300.0 .001 X-variable 8.2 .001 9. Using the high-low method, what is the predicted total maintenance cost for September? a. $3,500 b. $3,580 c. $3,600 d. $3,700 e. none of the above

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

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

Recommended Textbook for

College Accounting Chapters 1-12 With Study Guide And Working Papers

Authors: Jeffrey Slater

13th Edition

0133866300, 9780133866308

More Books

Students also viewed these Accounting questions

Question

Will something truly bad happen if I dont follow this value?

Answered: 1 week ago

Question

=+which it operates?

Answered: 1 week ago

Question

=+How should we organize a book to maximize learning and interest

Answered: 1 week ago