Question: Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead cost = $109,743 + ($80.75 X Direct labour

Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost:

Overhead cost = $109,743 + ($80.75 X Direct labour hours)

Required:1. Link each term in column A to the corresponding term in column?B. Column A Column B Variable rate (slope) Independent variable Fixed cost (intercept)

2. If next month's budgeted direct labour hours equal5,000, what is the budgeted overhead cost?3. If next quarter's budgeted direct labour hours equall8,000, what is the budgeted overhead cost?4. If next year's budgeted direct labour hours equal58,000, what is the budgeted overhead cost?

Column A Column B Variable rate (slope) Independent variable Fixed cost (intercept) Dependent variable Overhead cost $109,743 $80.75 Direct labour hours

Step by Step Solution

★★★★★

3.48 Rating (174 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

1 Overhead cost Dependent variable 109743 Fixed cost inter... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Managerial Accounting Questions!

The following regression results were based on monthly data over the period January 1978 to December 1987: Y t = 0.00681 ................... + 0.75815X t se = (0.02596) .................. (0.27009) t...

Match each term in Column A with its related definition in Column B. Column A 1. __________ Maquiladora 2. __________ Import 3. __________ Joint venture 4. __________ Export 5. __________ MNC Column...

Match each term in Column A with its related definition in Column B. Column A 1. __________ Spot rate 2. __________ Currency appreciation 3. __________ Translation risk 4. __________ Transaction risk...

Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $219,000 + ($98 x Direct Labor Hours) Required: 1. Select the term...

Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $150,000 + ($52 x Direct Labor Hours) Required: 1. Select the term...

Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $192,000 + ($52 x Direct Labor Hours) 1. Select the term in the...

Gordon Companys controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead cost = $109,743 + ($80.75 Direct labor hours) Required: 1. Link each term...

Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $150,000 + ($52 Direct Labor Hours) Required: 1. Link each term...

Interpreting Cost Formula Wylie Enterprises' controller, Josh Senior, estimated the following formula, based on monthly data, for total overhead cost: Overhead costs = $ 1 4 9 , 5 0 0 + ( $ 4 0 . 0 0...

please help me with this problem Interpreting Cost Formula Wylie Enterprises controller, Josh Senior, estimated the following formula, based on monthly data, for total overhead cost: Overhead costs =...

The Edison Eagles Players' Association and Mr. Sideline, the CEO and majority owner of Edison Eagles Soccer, Inc., ask your help in resolving a salary dispute. Mr. Sideline presents the following...

Common-size and trend percents for JBC Companys sales, cost of goods sold, and expenses follow: Determine whether net income increased, decreased, or remained unchanged in this three-year period....

14.23 Consider combinations of three factors in the removal of dirt from standard loads of laundry. The first factor is the brand of the detergent, X, Y , or Z. The second factor is the type of...

What are the three levels of management hierarchy? For each level, which management skills might be considered most important, and why?

How does a period cost differ from a product cost?

What is allocation?

Define manufacturing overhead.

The following spreadsheet contains monthly returns for Cola Co . and Gas Co . for 2 0 2 2 : Using these data, estimate the average monthly return and the volatility for each stock. The average...

1 What is the WACC for a company that gets 40% of their financing from debt and 60% from equity, their Kd is 7% and their ke is 12%? 2 What is the WACC for a company that get 30% of their financing...

Brittany purchased a car using a 6-year car lease at 6.80% compounded quarterly that required him to make payments of $413 at the beginning of each month. Calculate the cost of the car if he made a...