Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
please answer correctly! put on chegg once already and it was still wrong! thank you! will rate Required information The Hard Rock Mining Company is
please answer correctly! put on chegg once already and it was still wrong! thank you! will rate Required information The Hard Rock Mining Company is developing cost formulas for management planning and decision-making purposes. The company's cost analyst has concluded that utilities cost is a mixed cost, and he is attempting to find a base that correlates with the cost. The controller has suggested that tons mined might be a good base to use in developing a cost formula. The production superintendent disagrees; she thinks that direct labor-hours would be a better base. The cost analyst has decided to try both bases and has assembled the following information: 1-b. Using the least-squares regression method, estimaty the variable utilities cost per ton mined and the total fixed utilities cost per quarter. Express these estimates in the form Y=a+bX. (Round the Variable cost per unit to 2 decimal places and Fixed Cost to the nearest whole dollar amount.)
please answer correctly! put on chegg once already and it was still wrong! thank you! will rate
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started