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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 Copy Color Copies 25,900 23,000 19,550 18,150 22,150 20,400 30.874686 0.970922 Req 1 Req 2 6 0.081144 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. Variable cost per color copy Fixed cost Department Costs $ 2,095 1,955 1,600 1,475 1,815 1,725 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 y = a +bx. 6. If 22,800 copies are made during January, what is the total cost predicted by each method? Req 3 Complete this question by entering your answers in the tabs below. Req 5A Req 5B Req 6 Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. Note: Round your intermediate calculations and variable cost per unit to 2 decimal places.

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 Copy Color Copies 25,900 23,000 19,550 18,150 22,150 20,400 30.874686 0.970922 Req 1 Req 2 6 0.081144 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. Variable cost per color copy Fixed cost Department Costs $ 2,095 1,955 1,600 1,475 1,815 1,725 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 y = a +bx. 6. If 22,800 copies are made during January, what is the total cost predicted by each method? Req 3 Complete this question by entering your answers in the tabs below. Req 5A Req 5B Req 6 Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. Note: Round your intermediate calculations and variable cost per unit to 2 decimal places.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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 19,550 18, 150 22,150 20,400 Req 1 30.874686 0.970922 Req 2 6 0.081144 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. Variable cost per color copy Fixed cost Color Copy Department Costs $ 2,095 1,955 1,600 1,475 1,815 1,725 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 Complete this question by entering your answers in the tabs below. Req 5A Req 5B Req 6 Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. Note: Round your intermediate calculations and variable cost per unit to 2 decimal places.
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: Number of Color Copies 25,900 23,000 19,550 18, 150 22,150 20,400 Req 1 30.874686 0.970922 Req 2 6 0.081144 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. Variable cost per color copy Fixed cost Color Copy Department Costs $ 2,095 1,955 1,600 1,475 1,815 1,725 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 Complete this question by entering your answers in the tabs below. Req 5A Req 5B Req 6 Use the high-low method to estimate the variable and fixed costs for the Color Copy Department. Note: Round your intermediate calculations and variable cost per unit to 2 decimal places.
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