Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2013. Number of Shipments Received Weekly Cost of Receiving Reports 50 $175 44 162 40 154 35 142 53 185 58 200 60 202 a. Using the high-low method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. b. What is the predicted amount of receiving report costs for a week in which 72 shipments are received?
Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2013. Number of Shipments Received Weekly Cost of Receiving Reports 50 $175 44 162 40 154 35 142 53 185 58 200 60 202 a. Using the high-low method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. b. What is the predicted amount of receiving report costs for a week in which 72 shipments are received?
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 3CE: Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods...
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LO.4 (High-low method) Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2013.
Number of Shipments Received |
Weekly Cost of Receiving Reports |
50 | $175 |
44 | 162 |
40 | 154 |
35 | 142 |
53 | 185 |
58 | 200 |
60 | 202 |
a. Using the high-low method, develop the equation for predicting weekly receiving report costs based on the number of shipments received.
b. What is the predicted amount of receiving report costs for a week in which 72 shipments are received?
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