The Hard Rock Mining Company is trying to develop cost formula for utility cost.Two independent variables are
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The Hard Rock Mining Company is trying to develop cost formula for utility cost.Two independent variables are being considered: Tons Mined and Direct Labor hours. As the managerial accountant, you are to decide which independent variable is best to use. Each question is worth 2 points. | |||||||
The following quarterly information is available for Tons Mined: | |||||||
Quarter | Tons Mined | Utility Cost | |||||
Year 1--First | 15,000 | $ 50,000 | |||||
Year 1--Second | 11,000 | $ 45,000 | |||||
Year 1--Third | 21,000 | $ 60,000 | |||||
Year 1--Fourth | 12,000 | $ 75,000 | |||||
Year 2--First | 18,000 | $ 100,000 | |||||
Year 2--Second | 25,000 | $ 105,000 | |||||
Year 2--Third | 30,000 | $ 85,000 | |||||
Year 2--Fourth | 28,000 | $ 120,000 | |||||
1. Complete a scattergraph. Include r-square factor and equation. Make sure the trend line touches the y axis. Show your scattergraph below. Make sure the graph it fits nicely on the page. | |||||||
Please provide a scattergraph.
Related Book For
Managerial Accounting
ISBN: 978-0077522940
15th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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