Homework Help is Here – Start Your Trial Now!
Business
Accounting
Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: Intercept R-squared Number of observations X coefficient Month July August September October November December The regression output was based on the following data: Number of Color Copies 25,900 23,000 Req 1 19,550 18,150 22,150 20,400 Regression High-Low Req 2 Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? $ 30.874686 0.970922 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of y = a + bx. 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of y= a + bx. 6. If 22,800 copies are made during January, what is the total cost predicted by each method? 6 0.081144 Complete this question by entering your answers in the tabs below. Req 3 Color Copy Department Costs $ 2,095 1,955 1,600 1,475 1,815 1,725 Total Cost 1,847.00 If 22,800 copies are made during January, what is the total cost predicted by each method? Note: Use the answers that you provided in parts 3 and 5-b and round your final answers to 2 decimal places. Req 5A Req 5B < Req 5B Req 6 Req 6 >

Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: Intercept R-squared Number of observations X coefficient Month July August September October November December The regression output was based on the following data: Number of Color Copies 25,900 23,000 Req 1 19,550 18,150 22,150 20,400 Regression High-Low Req 2 Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? $ 30.874686 0.970922 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of y = a + bx. 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of y= a + bx. 6. If 22,800 copies are made during January, what is the total cost predicted by each method? 6 0.081144 Complete this question by entering your answers in the tabs below. Req 3 Color Copy Department Costs $ 2,095 1,955 1,600 1,475 1,815 1,725 Total Cost 1,847.00 If 22,800 copies are made during January, what is the total cost predicted by each method? Note: Use the answers that you provided in parts 3 and 5-b and round your final answers to 2 decimal places. Req 5A Req 5B < Req 5B Req 6 Req 6 >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: Intercept R-squared Number of observations X coefficient Month July August September October November December The regression output was based on the following data: Color Copy Department Costs Number of Color Copies 25,900 23,000 Reg 1 19,550 18,150 22,150 20,400 Regression High-Low Req 2 $ 30.874686 0.970922 Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of y= a + bx. 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of y= a + bx. 6. If 22,800 copies are made during January, what is the total cost predicted by each method? Req 3 0.081144 Complete this question by entering your answers in the tabs below. $ 2,095 1,955 Total Cost 6 1,600 1,475 1,847.00 1,815 1,725 If 22,800 copies are made during January, what is the total cost predicted by each method? Note: Use the answers that you provided in parts 3 and 5-b and round your final answers to 2 decimal places. Req 5A Req 5B < Req 5B Req 6 Req 6 >
Transcribed Image Text:Tempe Office Services and Supplies (TOSS) provides various products and services in the Tempe Research Park, home to numerous high-tech and bio-tech companies. Making color copies is one of its most popular and profitable services. The controller performed a regression analysis of data from the Color Copy Department with the following results: Intercept R-squared Number of observations X coefficient Month July August September October November December The regression output was based on the following data: Color Copy Department Costs Number of Color Copies 25,900 23,000 Reg 1 19,550 18,150 22,150 20,400 Regression High-Low Req 2 $ 30.874686 0.970922 Required: 1. What is the variable cost per color copy for TOSS? 2. What is the fixed cost for the Color Copy Department? 3. Based on the regression output obtained by the controller, what cost formula should be used to estimate future total costs for the Color Copy Department? Enter answer as an equation in the form of y= a + bx. 5-a. Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. 5-b. What cost formula should be used based on your analysis? Enter answer as an equation in the form of y= a + bx. 6. If 22,800 copies are made during January, what is the total cost predicted by each method? Req 3 0.081144 Complete this question by entering your answers in the tabs below. $ 2,095 1,955 Total Cost 6 1,600 1,475 1,847.00 1,815 1,725 If 22,800 copies are made during January, what is the total cost predicted by each method? Note: Use the answers that you provided in parts 3 and 5-b and round your final answers to 2 decimal places. Req 5A Req 5B < Req 5B Req 6 Req 6 >
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Continuous and Computer Assisted Audit Techniques (CAAT)
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS