Is the correct answer All of the above? Examine this chart, Maintenance Costs $4

Question

Is the correct answer All of the above?

Examine this chart, Maintenance Costs $450,000 $400,000 $350,000 O $300,000 $250,000 $200,000 2 $150,000 $100,000 $50,000 y 22.673x +63436 R2 = 0.98 E 8,000 Direct Labor Hours 0 2,000 4,000 6,000 10,000 12,000 14,000 16,000 18,000 The standard error value for the coefficient m1 There are five data points in the analaysis Choose the answer that is correct 1.871381 3 degrees of freedom $22.67 variable cost per direct labor hour 0.9800 coefficient of determination $63,436 fixed cost in total All of the above are correct

Explanation / Answer

Answer: All of the above are correct.

Degrees of freedom = n – k – 1 = 5 – 1 – 1 = 3

Variable cost per direct labor hour is $22.673 which is $22.67 rounded off to 2 decimal places

R2 = coefficient of determination = 0.9800

Fixed cost in total is $63,436

Hence, all of the above are correct.

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