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Assume that a company wants to separate a mixed cost into its variable and fixed elements for cost estimation purposes. It provided the following information: Week 1 2 3 4 56 7 8 9 10 Units Produced 12,000. 13,500 14,000 13,700 11,500 10,100 10,800 14,400 11, 200 13, 200 Mixed Cost $ 35,300 $ 39,500 $ 41,100 $ 39,620 $ 34,400 $ 32,050 $ 32,380 $ 41,890 $ 34,200 $ 39,150 Using least-squares regression, the estimate for the fixed cost per week is closest to:

Assume that a company wants to separate a mixed cost into its variable and fixed elements for cost estimation purposes. It provided the following information: Week 1 2 3 4 56 7 8 9 10 Units Produced 12,000. 13,500 14,000 13,700 11,500 10,100 10,800 14,400 11, 200 13, 200 Mixed Cost $ 35,300 $ 39,500 $ 41,100 $ 39,620 $ 34,400 $ 32,050 $ 32,380 $ 41,890 $ 34,200 $ 39,150 Using least-squares regression, the estimate for the fixed cost per week is closest to:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume that a company wants to separate a mixed cost into its variable and fixed elements for cost estimation purposes. It provided the following information: Week 1 2 3 4 56 7 8 9 10 Units Produced 12,000. 13,500 14,000 13,700 11,500 10,100 10,800 14,400 11, 200 13, 200 Mixed Cost $ 35,300 $ 39,500 $ 41,100 $ 39,620 $ 34,400 $ 32,050 $ 32,380 $ 41,890 $ 34,200 $ 39,150 Using least-squares regression, the estimate for the fixed cost per week is closest to:
Transcribed Image Text:Assume that a company wants to separate a mixed cost into its variable and fixed elements for cost estimation purposes. It provided the following information: Week 1 2 3 4 56 7 8 9 10 Units Produced 12,000. 13,500 14,000 13,700 11,500 10,100 10,800 14,400 11, 200 13, 200 Mixed Cost $ 35,300 $ 39,500 $ 41,100 $ 39,620 $ 34,400 $ 32,050 $ 32,380 $ 41,890 $ 34,200 $ 39,150 Using least-squares regression, the estimate for the fixed cost per week is closest to:
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