Leslie Sporting Goods is a locally owned store that specializes in printing team jerseys. The majority of its business comes from ordersfor various local teams and organizations. While Leslie's prints everything from bowling team jerseys to fraternity/sorority apparel tospecial event shirts, summer league baseball and softball team jerseys are the company's biggest source of revenue.A portion of Leslie's operating information for the company's last year follows:Number ofOperatingMonthJerseys PrintedCost$5,735JanuaryFebruary2002055,8308,6909,800March575AprilМay6806259,2756,230June410JulyAugustSeptemberOctober3906,1405,9404,8102301803056,0055,9604,955November235December190Required:3. Using the high-low method, calculate the store's total fixed operating costs and variable operating cost per jersey.4. Using the high-low method results, calculate the store's expected operating cost if it printed 455 jerseys.5. Perform a least-squares regression analysis on Leslie's data.6. Using the regression output, create a linear equation (y= a+ bx) for estimating Leslie's operating costs.7. Using the least-squares regression results, calculate the store's expected operating cost if it prints 600 jerseys.Complete this question by entering your answers in the tabs below.Required 3Required 4Required 5Required 6Required 7Using the high-low method, calculate the store's total fixed operating costs and variable operating cost per jersey. (Do notround your intermediate calculations. Round your "Variable Cost" answer to 2 decimal places and "Fixed Cost" answer to thenearest whole number.)Variable Cost per JerseyFixed Cost

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Answered: Leslie Sporting Goods is a locally…

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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