Question: Analyzing a mixed cost using regression data Jackson Co. documented their production levels and overhead costs for the past six months. Month January February

Analyzing a mixed cost using regression data Jackson Co. documented their production levels and overhead costs for the past six months. Month January February March April May June $200,000 $180,000 $160,000 Units Produced Overhead Costs 900 $ 144,000 650 $ 112,800 1010 $ 174,000 620 $ 118,000 600 $ 120,000 1200 $ 178,000 Cost Vs. Hours y=113.89x+46607 R=0.9304 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $- 0 200 400 600 800 1000 1200 1400 Required: Using the graph fill in the blanks: a. The fixed cost is b. The variable cost per unit is (nearest penny) c. Using the cost equation what is the cost of producing 700 units? d. Comment on the expected reliability of this prediction using the information provided
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
