Business, 27.01.2021 20:40 Geo777

Your boss would like you to estimate the fixed and variable components of a particular cost. Actual data for this cost over four recent periods appear below. Activity Cost
Period 1 32 $388
Period 2 31 $377
Period 3 30 $362
Period 4 35 $406

Using the least-squares regression method, what is the cost formula for this cost?

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Answer from: rollercoasterbuddies

y =$115.75 + $8.36X

Explanation:

Calculation for what is the cost formula for this cost Using the least-squares regression method

First step is to calculate the Total amount of Period 1 to Period 4

Month Activity(X) Cost(Y) Square of X X*Y

Period 1 32 $388 $1,024 $12,416

Period 2 31 $377 $961 $11,687

Period 3 30 $362$ 900 $10,860

Period 4 35 $406 $1,225 $14,210

TOTAL 128 $1,533 $4,110 $49,173

Second step is to calculate Unit Variable Cost using this formula

Unit Variable Cost = nΣxy − (Σx)(Σy) /nΣx^2 − (Σx)^2

Where,

n =4

Σx =128

Σy =1,533

Σx^2=4,110

Σxy =49,173

Let plug in the formula

Variable cost per unit =4*49,173 - (128*1,533) / 4*4,110 - 128^2

Variable cost per unit=(196,692 - 196,224) / (16,440 - 16,384)

Variable cost per unit= 468 / 56

Variable cost per unit=$8.36

The third step is to calculate Total Fixed Cost

Using this formula

Total Fixed Cost = Σy − bΣx / n

Where,

Σy=1,533

bΣx=$8.36*128

n=4

Let plug in the formula

Total Fixed cost =1,533 - ($8.36*128) / 4

Total Fixed cost =(1,533 - 1,070) / 4

Total Fixed cost =$463 / 4

Total Fixed cost =$115.75

Hence,the cost formula for this cost will be:

Cost formula=Total Fixed cost + Variable cost per unit

y =$115.75 + $8.14X

Therefore Using the least-squares regression method, the cost formula for this cost is y =$115.75 + $8.36X

Answer from: Quest

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7. customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3

Answer from: Quest

answer; proclamation of 1763;

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