Total cost and number of units in the first seven months of 2020 are given below. According to this information, which of the following is the cost equation? Periods Total Cost No.of Units January 45,750 500 February 46,305 510 March 46,860 520 April 48,248 545 May 49,358 565 June 50,190 580 July 51,855 610 choose one a. Y=18000+55.5*X b. Y=21000+50*X c. Y=19000+52.5*X d. Y=22500+48.3*X

Total cost and number of units in the first seven months of 2020 are given below. According to this information, which of the following is the cost equation? Periods Total Cost No.of Units January 45,750 500 February 46,305 510 March 46,860 520 April 48,248 545 May 49,358 565 June 50,190 580 July 51,855 610 choose one a. Y=18000+55.5X b. Y=21000+50X c. Y=19000+52.5X d. Y=22500+48.3X

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 9EA: The cost data for Evencoat Paint for the year 2019 is as follows: Using the high-low method, express...

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The cost data for Evencoat Paint for the year 2019 is as follows: Using the high-low method, express the companys maintenance costs as an equation where x represents the gallons of paint produced. Then estimate the fixed and variable costs. Predict the maintenance costs i190,000 gallons of paint are produced. Predict the maintenance costs if 81,000 gallons of paint are produced. Using Excel, create a scatter graph of the cost data and explain the relationship between gallons of paint produced and equipment maintenance expenses.
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The cost data for Evencoat Paint for the year 2019 is as follows: Month Gallons ofPaintProduced EquipmentMaintenanceExpenses January 110,000 $70,700 February 68,000 66,800 March 71,000 67,000 April 77,000 68,100 May 95,000 69,200 June 101,000 70,300 July 125,000 70,400 August 95,000 68,900 September 95,000 69,500 October 89,000 68,600 November 128,000 72,800 December 122,000 71,450 A. Using the high-low method, express the company’s maintenance costs as an equation where x represents the gallons of paint produced. Then estimate the fixed and variable costs. Fixed cost $fill in the blank 1 Variable cost $fill in the blank 2 B. Predict the maintenance costs if 90,000 gallons of paint are produced. Maintenance cost $fill in the blank 3 C. Predict the maintenance costs if 81,000 gallons of paint are produced. Maintenance cost $fill in the…
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