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Lacourse Incorporated's inspection costs are listed below January February March April May June Units Produced July August 424 374 443 458 400 375 Inspection Costs $6,333 $6,471 $5,883 $5,636 $6,398 $5,896 Management believes that inspection cost is a mixed cost that depends on units produced. Using the least-squares regression method, the estimate of the fixed component of inspection cost per month is closest to: 450 401 $6,118 $5,633

Lacourse Incorporated's inspection costs are listed below January February March April May June Units Produced July August 424 374 443 458 400 375 Inspection Costs $6,333 $6,471 $5,883 $5,636 $6,398 $5,896 Management believes that inspection cost is a mixed cost that depends on units produced. Using the least-squares regression method, the estimate of the fixed component of inspection cost per month is closest to: 450 401 $6,118 $5,633

FINANCIAL ACCOUNTING
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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4 Lacourse Incorporated's inspection costs are listed below. January February March April May June Multiple Choice July August Management believes that inspection cost is a mixed cost that depends on units produced. Using the least-squares regression method, the estimate of the fixed component of inspection cost per month is closest to: O O $1,847 Units Produced 424 374 443 458 400 375 450 401 $5.633 $5,901 $1,889 Inspection Costs $6,118 $5,633 $6,333 $6,471 $5,883 $5,636 $6,398 $5,896
Transcribed Image Text:4 Lacourse Incorporated's inspection costs are listed below. January February March April May June Multiple Choice July August Management believes that inspection cost is a mixed cost that depends on units produced. Using the least-squares regression method, the estimate of the fixed component of inspection cost per month is closest to: O O $1,847 Units Produced 424 374 443 458 400 375 450 401 $5.633 $5,901 $1,889 Inspection Costs $6,118 $5,633 $6,333 $6,471 $5,883 $5,636 $6,398 $5,896
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