EB10. This cost data from Hickory Furniture is for the year 2017. Number of Chairs Produced Month January February March April May June July August September October November December 425 510 625 725 685 575 510 810 700 650 875 680 Factory Utility Expenses $1,659 1,964 2,406 2,791 2,637 2,214 1,964 3,119 2,695 2,503 3,369 2.618
EB10. This cost data from Hickory Furniture is for the year 2017. Number of Chairs Produced Month January February March April May June July August September October November December 425 510 625 725 685 575 510 810 700 650 875 680 Factory Utility Expenses $1,659 1,964 2,406 2,791 2,637 2,214 1,964 3,119 2,695 2,503 3,369 2.618
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:EB10. This cost data from Hickory Furniture is for the year 2017.
Month
January
February
March
April
May
June
July
August
September
October
November
December
Number of
Chairs Produced
425
510
625
725
685
575
510
810
700
650
875
680
Factory
Utility Expenses
$1,659
1,964
2,406
2,791
2,637
2,214
1,964
3,119
2,695
2,503
3,369
2,618
A. Using the high-low method, express the factory utility expenses as an equation where x
represents number of chairs produced.
B. Predict the utility costs if 900 chairs are produced.
C. Predict the utility costs if 750 chairs are produced.
D. Using Excel, create a scatter graph of the cost data and explain the relationship between
number of chairs processed and utility expenses.
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