Question: Really need help practising for Exams. The following data relating to units shipped and total shipping expense have been assembled by Archer Company, a manufacturer
Really need help practising for Exams.

The following data relating to units shipped and total shipping expense have been assembled by Archer Company, a manufacturer of large, custom-built air-conditioning units for commercial buildings Month Units shipping Total shipped expense January E 1,845 February 2,250 March 1,650 April 1,990 May 2,185 June 2,545 NO July 1,255 Required: 1. Using the high-low method, estimate a cost formula or shipping expense. (Do not round intermediate calculations. Round your answers to the nearest whole number. 2. The data above should be plotted on a scattergraph and a line of best fit, or a regression line, fitted over the data by visual inspection. The version below represents the above data graphically. Use this for the remaining parts of this question. Using the scattergraph, estimate the approximate fixed cost per month. (Round your answer to the nearest whole pound.) Using the scattergraph, estimate the approximate variable cost per unit shipped. (Round your intermediate calculations and final answer to nearest whole pound.) 3. Shipping costs only depends on the number of units shipped. O True O False
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
