!Required informationGeorge Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of thecompany's products, a platinum diving watch, goes through an etching process. The company has recorded etching costsas follows over the last six weeks:Week123456Units104125101556Total EtchingCost$ 272027222529$ 150For planning purposes, management wants to know the variable etching cost per unit and the total fixed etching cost perweek.Required:2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.2-b. Express these estimates in the form Y = a +bX.3. If the company processes thirteen units next week, what would be the expected total etching cost?Complete this question by entering your answers in the tabs below.Required 2A Required 2B Required 3Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost perweek.Note: Round your answers to 2 decimal places.Fixed etching cost per weekVariable etching cost per unit< Required 2ARequired 2B >

The least-squares regression method is a statistical technique used to determine the line of best…

Answered: George Caloz & Frères, located in…

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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ces Required Information. George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: 1 2 3 4 5 Units 5 45454 10 Req 2A 16 17 60 Total Etching Cost 5 22 21 25 20 28 32 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. $ 148 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week.. 2-b. Express these estimates in the form Y=a+bX Complete this question by entering your answers in the tabs below. eq 28 Express these estimates in the form Y= a + bx. (Round your answers to 2 decimal places.) < Req2A Reg 213
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