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Category > Accounting Posted 19 Aug 2017 My Price 9.00

Milky Chocolates

29.   Cost estimation using regression analysis. Milky Chocolates has observed the following overhead costs for the past 12 months:

 

Month

Overhead Costs

Boxes of Output

January   .............................................................................................................

$11,400

4,500

February   ...........................................................................................................

15,600

11,000

March   ................................................................................................................

16,800

12,000

April     ..................................................................................................................

12,000

5,500

May   ....................................................................................................................

14,100

9,000

June    ..................................................................................................................

15,600

10,500

July     ...................................................................................................................

13,200

7,500

August    ..............................................................................................................

12,300

5,000

September  ........................................................................................................

15,600

11,500

October   .............................................................................................................

12,900

6,000

November  .........................................................................................................

14,400

8,500

December  .........................................................................................................

15,000

10,000

 

The results of the regression analysis  are:

TC ¼ $8,781 þ ð$0:63 x Number of BoxesÞ

a.    Plot the data and the regression line (like Problem 5.4 for Self-Study).

b.    Estimate total monthly costs for a month when 10,200 boxes of chocolate are produced.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 12:08 AM My Price 9.00

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