A member of the controller\'s staff proposed that the behavi to analyze historic

Question

A member of the controller's staff proposed that the behavi to analyze historical data. Following this suggestion, month following table: MonthLabor-Hours Overhead Costs 2,741,204 2,166,231 1,902,236 2,590,765 3,071,812 2,618,161 2,480,231 2,745,558 2,211,799 3,437,704 2,314,436 2,550,630 3,603,709 3,404,786 3,016,493 3,638,331 3,553,886 3,191,617 3,481,714 3,219,519 3,495,424 3,207,258 3,600,622 3,736,658 251,563 238,438 192,500 271,250 323,750 290,938 271,250 251,563 231,875 343,438 185,938 231,875 382,813 376,250 290,938 395,938 356,563 323,750 389,375 317,188 343,438 336,875 382,813 376,250 4 6 9 10 12 13 14 15 16 17 18 19 20 21 23 24 Required a. Use the high-low estimation method to estimate the overhead dollar amount.)

Explanation / Answer

c. Regression Statistics :-

d) Overhead Costs :-

= $533857 + ($8.04 * 350000)

= $533857 + $2814000

= $3347857

Multiple R 0.94877977 R Square 0.90018305 Adjusted R Square 0.89564591 Standard Error 176382.635 Observations 24 Coefficients Intercept (Fixed Costs) $533857.12 Labor Hours $8.04

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