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Category > Accounting Posted 19 Aug 2017 My Price 9.00

Beckham Company

Exercise 3-38 (Appendix 3A) Method of Least Squares Using Computer Spreadsheet Program

The controller for Beckham Company believes that the number of direct labor hours is associ- ated with overhead cost. He collected the following data on the number of direct  labor  hours and associated factory overhead cost for the months of January through  August.

 

Month

Number of Direct Labor Hours

Overhead Cost

January

689

$5,550

February

700

5,590

 

 

 

 

Chapter 3   Cost Behavior                                                                   107

 

 

 

Month

Number of Direct Labor Hours

Overhead Cost

March

720

5,650

April

690

5,570

May

680

5,570

June

590

5,410

July

750

5,720

August

675

5,608

Required:

 

 

 

1.       Using a computer spreadsheet program such as Excel, run a regression on these data. Print out your results.

2.       Using your results from Requirement 1, write the cost formula for overhead cost. (Note: Round the fixed cost to the nearest dollar and the variable rate to the nearest cent.)

3.        CONCEPTUAL CONNECTION What is R2 based on your results? Do you think that the

number of direct labor hours is a good predictor of factory overhead cost?

4.        Assuming that expected September direct labor hours are 700, what is expected factory overhead cost using the cost formula in Requirement 2?

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Maurice Tutor
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Status NEW Posted 19 Aug 2017 01:08 PM My Price 9.00

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