Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

show how you did the work. Need to learn not know the answers. Leslie Sporting Goods is a locally owned store that specializes in printing

show how you did the work. Need to learn not know the answers. 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 ||| 210 ||| $ 5,745 February 220 5,850 March ||| 540 ||| 8,645 April ||| 690 ||| 9,750 May ||| 625 ||| 9,250 June ||| 460 ||| 6,210 July ||| 385 ||| 6,125 August |||245 ||| 5,930 September||| 195 |||4,800 October |||290 |||6,015 November |||255 ||| 5,960 December |||200 |||4,955 3. Using the high-low method, calculate the stores 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.) Variable Cost Per Unit: ??? Fixed Cost: ??? 4. Using the high-low method results, calculate the stores expected operating cost if it printed 475 jerseys. (Round your answer to the nearest whole number.) Total Cost: ??? 5. Perform a least-squares regression analysis on Leslies data. (Use Microsoft Excel or a statistical package to find the coefficients using least-squares regression. Round your answers to 2 decimal places.) Intercept: ??? X Variable 1: ??? 6. Using the regression output, create a linear equation (y = a + bx) for estimating Leslies operating costs. (Round your answers to 2 decimal places.) Total Cost: ???? + ???number of jerseys 7. Using the least-squares regression results, calculate the stores expected operating cost if it prints 605 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

Intermediate Microeconomics And Its Application

Authors: Walter Nicholson, Christopher M. Snyder

13th Edition

0357133064, 978-0357133064

More Books

Students also viewed these Accounting questions