Name Unit 4-Activity #2 Cost Estimation Problem 5 Corise's Cola was to manufacture 500 cases of cola next week. The accountant provided the following analysis of total manufacturing costs Variable Constant Independent variable r2-0.82 Coefficient Standard Error Value 115 230 82.73 105.50 1.39 2.18 1. What is the cost estimation equation according to the report? 2. What is the goodness of fit? 3. What is the estimated cost of producing the 500 cases of cola? Problem 6 The Perize Corporation used regression analysis to predict the annual cost of indirect materials. The results were as follows: Indirect Materials Cost Explained by Units Produced Constant Standard error of Y estimate r2 Number of observations X coefficient(s) Standard error of coefficient(s) $15,685 3,500 0.7832 20 10.25 2.1876 1. What is the total fixed cost? 2. What is the variable cost per unit produced? 3. Write the linear cost function. 4. What is the coefficient of determination? 5. Based on the above, I would conclude that there IS/ IS NOT (circle one) a significant relationship between the cost of indirect materials and units produced