Odessa, Incorporated, manufactures one model of computer desk. The following data are available regarding units shipped and total shipping costs:
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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Odessa, Incorporated, manufactures one model of computer desk. The following data are available regarding units
shipped and total shipping costs:
Month
January
February
March
April
May
June
July
Number of Units Total Shipping
Shipped
40
45
25
50
55
65
35
Cost
$ 2,950
2,800
2,100
3,350
3,300
3,900
2,000
Required:
1. Prepare a scattergraph of Odessa's shipping cost and draw the line you believe best fits the data.
Instructions:
1. Click on a point to the right of the graph.
2. Click within the graph to place the point.
3. Enter the exact coordinates in the dialog box that appears to the right of the graph.
4. Click save.
5. To change coordinates already saved, click on a point already placed in the graph, and enter revised coordinates in the dialog
box that opens.
6. Use the line tool provided to plota regression line for this data with ending coordinates of (100, 5100). To use the line tool, first
click on the appropriate y-intercept point, then click the second appropriate point on the graph to create the line.
Scattergraph-Cost of Shipping](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3320d3bf-93d3-4846-82d2-0ee40c089f86%2F453306ac-9e12-4a34-b484-b5d21f520423%2Fva6zkkg_processed.png&w=3840&q=75)
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