Exercise 6-34 Estimating Cost Behavior by Multiple Methods (Appendix) (LO 6-1, 6-2, 6-5, 6-9) Gator Beach...

Question

Exercise 6-34 Estimating Cost Behavior by Multiple Methods (Appendix) (LO 6-1, 6-2, 6-5, 6-9) Gator Beach Marts, a chain of convenience grocery stores in the Fort Lauderdale area, has store hours that fluctuate from month to month as the tourist trade in the community varies. The utility costs for one of the company's stores are listed below for the past six months. Total Utility Total Hours Month of Operation January 550 February 600 March 700 April 500 May 450 400 $1,620 1.700 1.900 1,600 1.350 1.300 Required: 1-a. Use the high-low method to estimate the cost behavior for the store's utility costs. Express the cost behavior in formula form ( Y a + DX 1-b. What is the variable utility cost per hour of operation? 3-a. Construct an Excel spreadsheet and use the Excel commands to perform a least squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form. 3-b. What is the variable utility cost per hour of operation? 4. During July, the store will be open 300 hours, Predict the store's total utility cost for July using each of the cost-estimation methods employed in requirements (1) and (3) Complete this question by entering your answers in the tabs below. Required: 1-a. Use the high-low method to estimate the cost behavior for the store's utility costs. Express the cost behavior in formula form(Y= a + bX). 1-b. What is the variable utility cost per hour of operation? 3-a. Construct an Excel spreadsheet and use the Excel commands to perform a least-squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form. 3-b. What is the variable utility cost per hour of operation? 4. During July, the store will be open 300 hours. Predict the store's total utility cost for July using each of the cost-estimation methods employed in requirements (1) and (3). Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Reg 3A Reg 38 Req4 Use the high-low method to estimate the cost behavior for the store's utility costs. Express the cost behavior in formula form ( a + bx Monthly utility cost Res 18 > Required: 1-a. Use the high-low method to estimate the cost behavior for the store's utility costs. Express the cost behavior in formula form (Y=a + bX, 1-b. What is the variable utility cost per hour of operation? 3-a. Construct an Excel spreadsheet and use the Excel commands to perform a least squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form 3-b. What is the variable utility cost per hour of operation? 4. During July, the store will be open 300 hours. Predict the store's total utility cost for July using each of the cost-estimation methods employed in requirements (1) and (3) Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 3A Reg 38 Reg 4 What is the variable utility cost per hour of operation? Variable cost per hour < Reg 1A Req3A > Required: 1-a. Use the high-low method to estimate the cost behavior for the store's utility costs. Express the cost behavior in formula form (Y=3 + DX 1-b. What is the variable utility cost per hour of operation? 3-a. Construct an Excel spreadsheet and use the Excel commands to perform a least-squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form 3-b. What is the variable utility cost per hour of operation? 4. During July, the store will be open 300 hours, Predict the store's total utility cost for July using each of the cost-estimation methods employed in requirements (1) and (3) Complete this question by entering your answers in the tabs below. Red IA Reg 13 Reg 3A Reg 33 Reg 4 Construct an Excel spreadsheet and use the Excel commands to perform a least-squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form. (Round coefficient of X to 2 decimal places and other answer to the nearest whole dollar Monthly utility cost = CR 18 Rees Required: 1-a. Use the high-low method to estimate the cost behavior for the store's utility costs. Express the cost behavior in formula form(Y a + X). 1-b. What is the variable utility cost per hour of operation? 3-a. Construct an Excel spreadsheet and use the Excel commands to perform a least squares regression. Estimate the cost behavior for the store's utility cost Express the cost behavior in formula form 3-b. What is the variable utility cost per hour of operation? 4. During July, the store will be open 300 hours. Predict the store's total utility cost for July using each of the cost-estimation methods employed in requirements (1) and (3) Complete this question by entering your answers in the tabs below Reg 1A Red RA Reg 3 What is the variable utility cost per hour of operation? (round you Variable utility cost por hour < RBA Required: 1-a. Use the high-low method to estimate the cost behavior for the store's utility costs. Express the cost behavior in formula form (Y=a + bx 1-b. What is the variable utility cost per hour of operation? 3-a. Construct an Excel spreadsheet and use the Excel commands to perform a least squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form. 3-b. What is the variable utility cost per hour of operation? 4. During July, the store will be open 300 hours. Predict the store's total utility cost for July using each of the cost-estimation methods employed in requirements (1) and (3). Complete this question by entering your answers in the tabs below. Reg LA Reg 1B Red 3A Reg 38 During July, the store will be open 300 hours, Predict the store's total utility cost for July using each of the cost estimation methods employed in requirements (1) and (3). Cost Predictions High-low method Least square regression ( Rega

 · Answer

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 ANS - Microsoft Excel x Home Insert Page Layout - x Data Analysis EO Formulas Data Review View Connections * Clear Properties

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

.

Exercise 6-34 Estimating Cost Behavior by Multiple Methods (Appendix) (LO 6-1, 6-2, 6-5, 6-9) Gator Beach...

Question:

Answers

Similar Solved Questions

Question about pug template.. ================== Translate the following HTML into a Pug template. <style> /* Style...

A, Suppose the American Cancer Alliance states that on average, your risk of getting a certain...

R, -1.5 cm b. If this diverging lens has a power of -50 D, what is...

What is Pascal's triangle?

Question 2. Points: 0 out of 1 possible. Message instructor about this question Based on the...

Please ignore the circled answers. I am checking my results. d reject because ts eject So...

Chapter 6-Quiz Caloulator Beginning inventory, purchases, and sales for Product XCX are as follows: Sep. 1...

Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the...

The work function of potassium metal is 2.30 eV. Monochromatic light is shined on its surface,...

How do you simplify #(-2i)(-6i)(4i)#?

Question 3: (a) (6 points) We place 120.0 g of a metal at 80.00oC in 436.3...

A circle has a chord that goes from #pi/4 # to #(3 pi) / 8 # radians on the circle. If the area of the circle is #81 pi #, what is the length of the chord?

Problem 5-17 (Algo) Comparing Traditional and Activity-Based Product Margins [LO5-1, LO5-3, LO5-4, LO5-5] Smoky Mountain Corporation...

Johnson Trucking Company wants to determine a fuel surcharge to add to its customers' bills based...

Please write code in Python! You are asked to implement the following checksum formula to validate...