## Answers

1a. High low method

Variable cost per hour = (Cost at highest level - Cost at lowest level) / (Highest Activity - Lowest Activity)

= ($1900-1300) / (700-400) = $2 per hour

Fixed Cost = $1900 - 700 x $2 = $500 per unit

Y = $500 + $2x

1b. Variable Utility Cost per hour = $2

3-a

Y = $501 + $2.02 x

3b. Variable Utility Cost per hour = $2.02

4. Cost for 300 hours

High low method = $500 + $2 x 300 = $1100

Least Squares method = $501 + $2.02 x 300 = $1107

ANS - Microsoft Excel x Home Insert Page Layout - x Data Analysis EO Formulas Data Review View Connections * Clear Properties Reapply E Refresh 21 Sort Filter All Edit Links Advanced Connections Sort & Filter LA From From Access Web Show Detail Hide Detail 28 29 30 Group Ungroup Subtotal From From Other Text Sources Get External Data C O Text to Remove Data Consolidate What-If Columns Duplicates Validation Analysis Data Tools Existing Connections Outline Analysis K14 H J K L M N O P Q R S т SUMMARY OUTPUT OUTPUT 3 Total hours of Operation Line Fit Plot 5 $3,000 Regression Statistics 4 Multiple R 0.975590116 R Square 0.951776075 6 Adjusted R Square 0.939720093 Standard Error 54.90901565 8 Observations 9 10 ANOVA $2,000 $1,000 Total Utility Cost Total Utility Cost 0 200 400 600 800 Total hours of Operation Predicted Total Utility Cost 11 Significance F 0.000886491 1 SS MS F 238023.3333 238023 78.9464 12060 3015 250083.3333 12 Regression 13 Residual 14 Total 15 16 17 Intercept 18 Total hours of Operation Coefficients 501 2.02 Standard Error t Stat P-value 123.3053701 4.06308 0.01531 0.227344924 8.88518 0.00089 Lower 95% Upper 95%wer 95.0%pper 95.0% 1 58.6494089 843.351 158.649 843.351 1 .3887893 2.65121 1.38879 2.65121 2.0 RESIDUAL OUTPUT Observation Residuals icted Total Utility 1612 2 1713 3 1915 4 1511 1410 1309 Sheet19 Sheet20 -13 -15 89 30 6 Sheet18 Sheet21 Sheet22 Sheet23 Sheet24 Sheet25 Sheet26 Sheet27 0 Ready BOJ 80% o 5 W K Tally O EN ! 11:29 .

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+ 07/02/2020

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