Question
The Stanford Company incurred the following maintenance cost during a five month period: Month Production Volume Maintenance Costs June 75 $250 July 115 310 August
The Stanford Company incurred the following maintenance cost during a five month period:
| Month | Production Volume | Maintenance Costs |
| June | 75 | $250 |
| July | 115 | 310 |
| August | 190 | 400 |
| September | 60 | 240 |
| October | 135 | 355 |
Using a computer or calculator, compute the estimate of the fixed portion of maintenance costs using the method of least squares. Rounded to dollars, this value would be?
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Managerial Accounting With Ready Notes
Authors: Ronald W. Hilton
1st Edition
0075619733, 978-0075619734
