**Leslie Sporting Goods** is a locally owned store that specializes in printing team jerseys. The majority of its business comes from orders for various local teams and organizations. While Leslie’s prints everything from bowling team jerseys to fraternity/sorority apparel to special 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:| Month | Number of Jerseys Printed | Operating Cost ||-------------|---------------------------|----------------|| January | 200 | $5,735 || February | 205 | $5,830 || March | 575 | $8,690 || April | 680 | $9,800 || May | 625 | $9,275 || June | 410 | $6,230 || July | 390 | $6,140 || August | 230 | $5,940 || September | 180 | $4,810 || October | 305 | $6,005 || November | 235 | $5,960 || December | 190 | $4,955 |**Required:**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 3**Using the high-low method, calculate the store’s total fixed operating costs and variable operating cost per jersey. (*Do not round your intermediate calculations. Round your "Variable Cost" answer to 2 decimal places and "Fixed Cost" answer to the nearest whole number.*)- **Variable Cost per Jersey**- **Fixed 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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