Havana Hats makes the world's best hats. Information for the last eight months follows: Month January Number of Hats Produced Total Cost 7,900 $ 12,425 February 7,408 12,000 March 6,300 11,150 April 5,400 8,300 May 4,658 7,680 June 2,200 5,380 July 2,600 5,580 August 4,658 7,750 Required: Perform a least squares regression. Note: Round your answers to 2 decimal places. Variable cost per unit Total fixed cost
Havana Hats makes the world's best hats. Information for the last eight months follows: Month January Number of Hats Produced Total Cost 7,900 $ 12,425 February 7,408 12,000 March 6,300 11,150 April 5,400 8,300 May 4,658 7,680 June 2,200 5,380 July 2,600 5,580 August 4,658 7,750 Required: Perform a least squares regression. Note: Round your answers to 2 decimal places. Variable cost per unit Total fixed cost
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 35P: Orman Company produces neon-colored covers for tablets (e.g., iPads). For last year, Orman reported...
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![Havana Hats makes the world's best hats. Information for the last eight months follows:
Month
January
Number of Hats
Produced
Total Cost
7,900
$ 12,425
February
7,408
12,000
March
6,300
11,150
April
5,400
8,300
May
4,658
7,680
June
2,200
5,380
July
2,600
5,580
August
4,658
7,750
Required:
Perform a least squares regression.
Note: Round your answers to 2 decimal places.
Variable cost per unit
Total fixed cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F61727bee-c096-4cfd-8745-46f77e73c567%2F09760da8-548e-4ce5-a98b-7aef586c9f9d%2Ffcrtivk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Havana Hats makes the world's best hats. Information for the last eight months follows:
Month
January
Number of Hats
Produced
Total Cost
7,900
$ 12,425
February
7,408
12,000
March
6,300
11,150
April
5,400
8,300
May
4,658
7,680
June
2,200
5,380
July
2,600
5,580
August
4,658
7,750
Required:
Perform a least squares regression.
Note: Round your answers to 2 decimal places.
Variable cost per unit
Total fixed cost
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