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The management of Hamano Corporation would like for you to analyze their repair costs, which are liste Repair Costs April May June July August September October November Machine- Hours 4,459 4,426 4,493 4,417 4,432 4,446 4,489 4,475 $ 98,523 $ 98,296 $ 98,781 $ 98,207 $ 98,349 $ 98,420 98,749 $ 98,654

The management of Hamano Corporation would like for you to analyze their repair costs, which are liste Repair Costs April May June July August September October November Machine- Hours 4,459 4,426 4,493 4,417 4,432 4,446 4,489 4,475 $ 98,523 $ 98,296 $ 98,781 $ 98,207 $ 98,349 $ 98,420 98,749 $ 98,654

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 management of Hamano Corporation would like for you to analyze their repair costs, which are listed below: Repair Costs $ 98,523 April May June July August September October November Machine- Hours 4,459 4,426 4,493 4,417 4,432 4,446 4,489 4,475 $ 98,296 $ 98,781 $ 98,207 $ 98,349 $ 98,420 $ 98,749 $ 98,654 Management believes that repair cost is a mixed cost that depends on the number of machine-hours. Using the least-squares regression method, the estimates of the variable and fixed components of repair cost would be closest to:
Transcribed Image Text:The management of Hamano Corporation would like for you to analyze their repair costs, which are listed below: Repair Costs $ 98,523 April May June July August September October November Machine- Hours 4,459 4,426 4,493 4,417 4,432 4,446 4,489 4,475 $ 98,296 $ 98,781 $ 98,207 $ 98,349 $ 98,420 $ 98,749 $ 98,654 Management believes that repair cost is a mixed cost that depends on the number of machine-hours. Using the least-squares regression method, the estimates of the variable and fixed components of repair cost would be closest to:
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