It's Still Raining (ISR) manufacturers umbrellas. In order to better budget and manage costs, they are analyzing the purchasing costs behavior. They have the following data from the last six months of last year. Month Total Purchasing Costs Purchase Orders July $19,670 460 August $20,940 560 September $19,430 400 October $20,020 500 November $18,800 470 December $19,340 480 Using the regression analysis function in Excel, what are the expected costs if 520 purchase orders are processed? Please round your answer to the nearest whole dollar.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
It's Still Raining (ISR) manufacturers umbrellas. In order to better budget and manage costs, they are analyzing the purchasing costs behavior. They have the following data from the last six months of last year.
| Month | Total Purchasing Costs | Purchase Orders |
| July | $19,670 | 460 |
| August | $20,940 | 560 |
| September |
$19,430 |
400 |
| October | $20,020 | 500 |
| November | $18,800 | 470 |
| December | $19,340 | 480 |
Using the regression analysis function in Excel, what are the expected costs if 520 purchase orders are processed? Please round your answer to the nearest whole dollar.
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