p1 For example, Master Chemicals produces bottles of a cleaning lubricant. The activity levels and theattached costs are shown below:Batch Number of Bottles Cost (S)14,10066,00023,60053,00033,20052,10042,86048,23051,95036,75061,02033,000758017,000Required: On the basis of above data, determine the cost function using the least squares regressionmethod and calculate the total cost at activity levels of 6,000 and 10,000 bottles.

The least-square method helps to distinguish between the fixed and variable cost by plotting all the…

For example, Master Chemicals produces bottles of a cleaning lubricant. The activity levels and the attached costs are shown below: Batch Number of Bottles Cost (S) 1 4,100 66,000 2 3,600 53,000 3 3,200 52,100 2,860 48,230 5 1,950 36,750 6 1,020 33,000 7 580 17,000 Required: On the basis of above data, determine the cost function using the least squares regression method and calculate the total cost at activity levels of 6,000 and 10,000 bottles.

For example, Master Chemicals produces bottles of a cleaning lubricant. The activity levels and the attached costs are shown below: Batch Number of Bottles Cost (S) 1 4,100 66,000 2 3,600 53,000 3 3,200 52,100 2,860 48,230 5 1,950 36,750 6 1,020 33,000 7 580 17,000 Required: On the basis of above data, determine the cost function using the least squares regression method and calculate the total cost at activity levels of 6,000 and 10,000 bottles.

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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