Fiske Corporation manufactures a popular regional brand of kitchen utensils. The design and variety has been...

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Fiske Corporation manufactures a popular regional brand of kitchen utensils. The design and variety has been fairly constant over the last three years. The managers at Fiske are planning for some changes in the product line next year, but first they want to understand better the relation between activity and factory costs as experienced with the current products. Discussions with the plant supervisor suggest that overhead seems to vary with labor-hours, machine-hours, or both. The following data were collected from last three year's operations: Quarter Machine-Hours Labor-Hours Factory costs 1 18,850 14,905 2 18,590 15,477 $ 3,388,671 3,425,136 3 17,480 16,720 3,617,144 4 19,240 15,983 3,573,240 5 21,280 17,501 3,812,284 6 19,630 17,369 3,777,312 7 19,240 15,290 3,531,726 8 18,850 14,366 3,369,102 9 18,460 15,994 3,512,487 10 20,670 16,995 3,730,734 11 17,550 14,278 3,324,915 12 18,460 17,644 3,723,786 Required: Prepare a scattergraph based on the factory cost and labor-hour data. Note: 1. Click on a point to the right of the graph. 2. Click within the graph to place the point. 3. Enter the exact coordinates in the dialog box that appears to the right of the graph. Enter your plotting points in thousands. Round your x axis to 1 decimal place and y axis to the nearest ten (i.e., 15,484 labor-hours and $3,425,836 factory costs would be entered as 15.5 and 3430). 4. Click save. Fiske Corporation (in thousands) Factory costs (in dollars) 3,800 3,900 3,700 3,600 3,500 3,400 3,300 14.0 Tools (15.65, 3845) Quarter 1 14.5 15.0 15.5 16.0 16.517.0 17.5 18.0 Labor-Hours Quarter 2 Quarter 3 Fiske Corporation manufactures a popular regional brand of kitchen utensils. The design and variety has been fairly constant over the last three years. The managers at Fiske are planning for some changes in the product line next year, but first they want to understand better the relation between activity and factory costs as experienced with the current products. Discussions with the plant supervisor suggest that overhead seems to vary with labor-hours, machine-hours, or both. The following data were collected from last three year's operations: Quarter Machine-Hours Labor-Hours Factory costs 1 18,850 14,905 2 18,590 15,477 $ 3,388,671 3,425,136 3 17,480 16,720 3,617,144 4 19,240 15,983 3,573,240 5 21,280 17,501 3,812,284 6 19,630 17,369 3,777,312 7 19,240 15,290 3,531,726 8 18,850 14,366 3,369,102 9 18,460 15,994 3,512,487 10 20,670 16,995 3,730,734 11 17,550 14,278 3,324,915 12 18,460 17,644 3,723,786 Required: Prepare a scattergraph based on the factory cost and labor-hour data. Note: 1. Click on a point to the right of the graph. 2. Click within the graph to place the point. 3. Enter the exact coordinates in the dialog box that appears to the right of the graph. Enter your plotting points in thousands. Round your x axis to 1 decimal place and y axis to the nearest ten (i.e., 15,484 labor-hours and $3,425,836 factory costs would be entered as 15.5 and 3430). 4. Click save. Fiske Corporation (in thousands) Factory costs (in dollars) 3,800 3,900 3,700 3,600 3,500 3,400 3,300 14.0 Tools (15.65, 3845) Quarter 1 14.5 15.0 15.5 16.0 16.517.0 17.5 18.0 Labor-Hours Quarter 2 Quarter 3