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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: Month January February March April May June July August Multiple Choice O $ 12,100 $ 10,800 $ 12,210 $ 10,970 $ 11,005 Using least-squares regression, the estimate for the variable cost per unit is closest to: $4.24. $5.36. Units Produced 1,050 $4.54. 1,150 1,100 1,250 950 1,280 990 1,010 Mixed Cost $ 11,045 $ 11,870 $ 11,560

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: Month January February March April May June July August Multiple Choice O $ 12,100 $ 10,800 $ 12,210 $ 10,970 $ 11,005 Using least-squares regression, the estimate for the variable cost per unit is closest to: $4.24. $5.36. Units Produced 1,050 $4.54. 1,150 1,100 1,250 950 1,280 990 1,010 Mixed Cost $ 11,045 $ 11,870 $ 11,560

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: Units Produced 1,050 1,150 1,100 1,250 950 Month January February March April May June July August $ 12,210 $ 10,970 $ 11,005 Using least-squares regression, the estimate for the variable cost per unit is closest to: Multiple Choice $4.24. $5.36. O $4.54. $5.56. Mixed Cost $ 11,045 $ 11,870 $ 11,560 1,280 990 1,010 $ 12,100 $ 10,800
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: Units Produced 1,050 1,150 1,100 1,250 950 Month January February March April May June July August $ 12,210 $ 10,970 $ 11,005 Using least-squares regression, the estimate for the variable cost per unit is closest to: Multiple Choice $4.24. $5.36. O $4.54. $5.56. Mixed Cost $ 11,045 $ 11,870 $ 11,560 1,280 990 1,010 $ 12,100 $ 10,800
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