аppropriate management measure of activity for overhead cost. Shown below are machine-hours and total overhead costs for the past six months: turing Corporation Jan Feb Mar Аpr May Machine Hours 1,500 1,400 1,600 1,300 1,700 2,000 Overhead Cost P339,000 P328,000 P350,000 P319,500 P362,500 P400,000 Jun

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question
The management of ABC Manufacturing Corporation believes that machine-hours is an appropriate
measure of activity for overhead cost. Shown below are machine-hours and total overhead costs for the
past six months:
Machine
Overhead
Hours
Cost
1,500
1,400
1,600
1,300
1,700
2,000
Jan
P339,000
Feb
P328,000
P350,000
P319,500
P362,500
P400,000
Mar
Apr
May
Jun
Using linear regression analysis, the estimated variable overhead cost per machine hour is closest
to:
P50.22
P2.87
P116.38
P102.76
Transcribed Image Text:The management of ABC Manufacturing Corporation believes that machine-hours is an appropriate measure of activity for overhead cost. Shown below are machine-hours and total overhead costs for the past six months: Machine Overhead Hours Cost 1,500 1,400 1,600 1,300 1,700 2,000 Jan P339,000 Feb P328,000 P350,000 P319,500 P362,500 P400,000 Mar Apr May Jun Using linear regression analysis, the estimated variable overhead cost per machine hour is closest to: P50.22 P2.87 P116.38 P102.76
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Optimization
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman