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The costs of a book printer for the last several months are as follows: Titles Printed Press Setup Cost May June 25 $ 3,295 26 $ 3,328 July 38 $ 3,813 August 20 $ 3,121 September 36 $ 3,732 October 34 $ 3,676 November 35 $ 3,678 December 31 $ 3,920 Management believes that the press setup cost is a mixed cost that depends on the number of titles printed. (A specific book that is to be printed is called a "title". Typically, thousands of copies will be printed of each title. Specific steps must be taken to setup the presses for printing each title-for example, changing the printing plates. The costs of these steps are the press setup costs.) Required: Estimate the variable cost per title printed and the fixed cost per month using the least-squares regression method. (Round the "Variable cost" to 2 decimal places and the "Fixed cost" to the nearest dollar amount.) Variable cost Fixed cost per title printed per month

The costs of a book printer for the last several months are as follows: Titles Printed Press Setup Cost May June 25 $ 3,295 26 $ 3,328 July 38 $ 3,813 August 20 $ 3,121 September 36 $ 3,732 October 34 $ 3,676 November 35 $ 3,678 December 31 $ 3,920 Management believes that the press setup cost is a mixed cost that depends on the number of titles printed. (A specific book that is to be printed is called a "title". Typically, thousands of copies will be printed of each title. Specific steps must be taken to setup the presses for printing each title-for example, changing the printing plates. The costs of these steps are the press setup costs.) Required: Estimate the variable cost per title printed and the fixed cost per month using the least-squares regression method. (Round the "Variable cost" to 2 decimal places and the "Fixed cost" to the nearest dollar amount.) Variable cost Fixed cost per title printed per month

FINANCIAL ACCOUNTING
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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The costs of a book printer for the last several months are as follows: Titles Printed Press Setup Cost May June 25 $ 3,295 26 $ 3,328 July 38 $ 3,813 August 20 $ 3,121 September 36 $ 3,732 October 34 $ 3,676 November 35 $ 3,678 December 31 $ 3,920 Management believes that the press setup cost is a mixed cost that depends on the number of titles printed. (A specific book that is to be printed is called a "title". Typically, thousands of copies will be printed of each title. Specific steps must be taken to setup the presses for printing each title-for example, changing the printing plates. The costs of these steps are the press setup costs.) Required: Estimate the variable cost per title printed and the fixed cost per month using the least-squares regression method. (Round the "Variable cost" to 2 decimal places and the "Fixed cost" to the nearest dollar amount.) Variable cost Fixed cost per title printed per month
Transcribed Image Text:The costs of a book printer for the last several months are as follows: Titles Printed Press Setup Cost May June 25 $ 3,295 26 $ 3,328 July 38 $ 3,813 August 20 $ 3,121 September 36 $ 3,732 October 34 $ 3,676 November 35 $ 3,678 December 31 $ 3,920 Management believes that the press setup cost is a mixed cost that depends on the number of titles printed. (A specific book that is to be printed is called a "title". Typically, thousands of copies will be printed of each title. Specific steps must be taken to setup the presses for printing each title-for example, changing the printing plates. The costs of these steps are the press setup costs.) Required: Estimate the variable cost per title printed and the fixed cost per month using the least-squares regression method. (Round the "Variable cost" to 2 decimal places and the "Fixed cost" to the nearest dollar amount.) Variable cost Fixed cost per title printed per month
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