The regression output was based on the following data: Color Copy Department Costs Month July August September October November December 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. Number of Color Copies 25,900 23,000 19,550 18, 150 22,150 20,400 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 1 Complete this question by entering your answers in the tabs below. Regression High-Low Req 2 $ $ $ 2,095 1,955 1,600 1,475 1,815 1,725 Req 3 Total Cost X Answer is complete but not entirely correct. 31.68 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 6
The regression output was based on the following data: Color Copy Department Costs Month July August September October November December 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. Number of Color Copies 25,900 23,000 19,550 18, 150 22,150 20,400 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 1 Complete this question by entering your answers in the tabs below. Regression High-Low Req 2 $ $ $ 2,095 1,955 1,600 1,475 1,815 1,725 Req 3 Total Cost X Answer is complete but not entirely correct. 31.68 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 6
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The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Regression?
Transcribed Image Text:The regression output was based on the following data:
Color Copy
Number of
Color
Department
Costs
Copies
25,900
$ 2,095
Month
July
August
September
October
November
December
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.
Req 1
23,000
19,550
18,150
22,150
20,400
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 2
Regression
High-Low
Complete this question by entering your answers in the tabs below.
$
$
1,955
1,600
1,475
Req 3
Total Cost
1,815
1,725
31.68 X
1,847.00
X Answer is complete but not entirely correct.
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 6
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