Luke Ltd has scheduled a production of 200,000 feet of premium cedar lumber for June. The accountant
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Question:
Luke Ltd has scheduled a production of 200,000 feet of premium cedar lumber for June. The accountant provided the following analysis of total manufacturing costs for lumber based on Direct Labor Hours.
Variable Coefficient Standard Error t-Value
Constant 50,000 101.20 0.89
Independent variable (DLHr) 0.20 9.50 4.18
r2 = 0.78
What is the estimated cost of producing the 200,000 feet of lumber?
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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