Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

UMN inc manufactures Ice-cream making machines and then sells it to the distributors The number of machine manufactured and sold throughout the year are given

UMN inc manufactures Ice-cream making machines and then sells it to the distributors
The number of machine manufactured and sold throughout the year are given below
There is no opening inventory and ending inventory.
Month # of Machines Total
sold Cost
1 100 $ 75,000
2 150 $ 115,000
3 280 $ 210,000
4 300 $ 250,000
5 350 $ 265,000
6 550 $ 345,000
7 500 $ 320,000
8 570 $ 350,000
9 500 $ 340,000
10 490 $ 330,000
11 230 $ 150,000
12 400 $ 275,000
Solve by Least-squares Regression Method ONLY AND COMPUTE THE FOLLOWING
Requirements:
(i) Variable cost per Machine= $
(ii) Fixed cost per month = $
(iii) Semi Variable costs per month = $
(iv) Semi Fixed costs per month = $
REMEMBER NOT TO SOLVE BY HIGH-LOW METHOD
Need 100% Correct answer, with Step-by Step Answer

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

Glencoe Accounting

Authors: McGraw-Hill

1st Edition

0021400881, 9780021400881

More Books

Students also viewed these Accounting questions