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The following summations are available: Sum of hours: 860 Sum of costs: 4,120 Sum of hours x cost: 890,000 Sum of hours squared: 187,000 Number of months analyzed: 4 Using the least squares method for splitting semi-variable cost, what is the variable rate per hour and fixed cost, respectively? *

The following summations are available: Sum of hours: 860 Sum of costs: 4,120 Sum of hours x cost: 890,000 Sum of hours squared: 187,000 Number of months analyzed: 4 Using the least squares method for splitting semi-variable cost, what is the variable rate per hour and fixed cost, respectively? *

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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QUESTION 9

Cost Accounting
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The following summations are available: Sum of hours: 860 Sum of costs: 4,120 Sum of hours x cost: 890,000 Sum of hours squared: 187,000 Number of months analyzed: 4 Using the least squares method for splitting semi-variable cost, what is the variable rate per hour and fixed cost, respectively? * O a. P 3; P 500 O b. P 2; P 600 O C.P 2; P 500 O d. P4; P 600
Transcribed Image Text:The following summations are available: Sum of hours: 860 Sum of costs: 4,120 Sum of hours x cost: 890,000 Sum of hours squared: 187,000 Number of months analyzed: 4 Using the least squares method for splitting semi-variable cost, what is the variable rate per hour and fixed cost, respectively? * O a. P 3; P 500 O b. P 2; P 600 O C.P 2; P 500 O d. P4; P 600
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