Jorgenson Corporation has provided the following data for the first five months of the year: Machine...

Jorgenson Corporation has provided the following data for the first five months of the year:

Machine hours Lubrication cost

January 280 $1,530

February 360 $1,645

March 445 $1,755

April 310 $1,590

May 362 $1, 705

Using the least-squares regression method of analysis, the estimated variable lubrication cost per machine hour is closest to?

Solutions

Expert Solution

The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and calculation. For detailed answer refer to the supporting sheet.

ekkarill92 answered 9 months ago

Next > < Previous

Related Solutions

S&P Enterprises has provided data from the first three months of the year. The Controller has...

S&P Enterprises has provided data from the first three months of the year. The Controller has asked you to prepare the Cash Budget and the related Schedules for Expected cash collections and Payments to suppliers. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. • Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell on the...

The records of the Drori Corporation provided the following summarized data for 2017 (its first year...

The records of the Drori Corporation provided the following summarized data for 2017 (its first year of operations) and 2018: Income Statement for Years Ended on: Dec 31, 2017 Dec 31, 2018 Revenues $ 210,000 $ 218,000 Expenses (excluding income taxes) 120,000 133,000 Pre-tax income $ 90,000 $ 85,000 Additional information: 1. Assume that the income tax rate is 30%, and that 80% of income taxes payable are paid in the current year and 20% on April 15 of the...

anker corporation, which had only one product, has provided the following data fir its first year....

anker corporation, which had only one product, has provided the following data fir its first year. selling price $99 units in beg inventory 0 units produced 6300 units sold 6000 units in ending inventory 300 variable cost: Direct material 12 direct labor 12 variable manufacturing overhead $6 variable selling and adm $6 fixed costs: FMOH $170100 F selling and adm $24000 the net operation income under vairable cost: the unit produced under variable costing: the unit produced under absorbtion costing:...

Deidoro Company has provided the following data for maintenance cost: Prior Year Current Year Machine hours...

Deidoro Company has provided the following data for maintenance cost: Prior Year Current Year Machine hours 22,000 24,500 Maintenance cost $ 31,400 $ 34,900 Maintenance cost is a mixed cost with variable and fixed components. The fixed and variable components of maintenance cost are closest to: Multiple Choice $34,300 per year; $.714 per machine hour $600 per year; $.714 per machine hour $600 per year; $1.400 per machine hour $31,400 per year; $1.400 per machine hour . Derst Inc. sells...

1. Holl Corporation has provided the following data for November. Denominator level of activity 5,700 machine-hours...

1. Holl Corporation has provided the following data for November. Denominator level of activity 5,700 machine-hours Budgeted fixed manufacturing overhead costs $ 72,390 Standard machine-hours allowed for the actual output 6,000 machine-hours Actual fixed manufacturing overhead costs $ 71,250 Required: a. Compute the budget variance for November. b. Compute the volume variance for November. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as...

Holl Corporation has provided the following data for November. Denominator level of activity 4900 machine-hours Budgeted...

Holl Corporation has provided the following data for November. Denominator level of activity 4900 machine-hours Budgeted fixed manufacturing overhead costs $ 58,310 Standard machine-hours allowed for the actual output 5200 machine-hours Actual fixed manufacturing overhead costs $ 57,330 Required: Calculate the following. Input all amounts as positive values FOH Budget Variance $ FOH Volume Variance $

Bennette Corporation has provided the following data concerning its overhead costs for the coming year: ...

Bennette Corporation has provided the following data concerning its overhead costs for the coming year: Wages and salaries $ 440,000 Depreciation 170,000 Rent 190,000 Total $ 800,000 The company has an activity-based costing system with the following three activity cost pools and estimated activity for the coming year: Activity Cost Pool Total Activity Assembly 30,000 labor-hours Order processing 550 orders Other Not applicable The Other activity cost pool does not have a measure of...

Sioux Corporation is estimating the following sales for the first four months of next year: January:...

Sioux Corporation is estimating the following sales for the first four months of next year: January: $260,000 Febraury: $230,000 March: $270,000 April: $320,000 Sales are normally collected 60% in the month of slae, 35% in the month following the sale, and the remaining 5% being uncollectible. Based on this information, how much cash should Sioux expect to collect during the month of April? A.) $286,500 B.) $320,000 C.) $192,000 D.) $94,500

Millner Corporation has provided the following data from its activity-based costing accounting system:Millner Corporation has provided...

Millner Corporation has provided the following data from its activity-based costing accounting system:Millner Corporation has provided the following data from its activity-based costing accounting system: ACTIVITY COST POOLS TOTAL COST TOTAL ACTIVITY DESIGNING PRODUCTS $1,372,4478 7,798 PRODUCT DESIGN HOURS SETTING UP BATCHES 33,300 740 BATCH SET UP ASSEMBLING PRODUCTS 126,160 6,640 ASSEBLY HOURS The activity rate for the "designing products" activity cost pool is closest to

Bitonti Corporation has provided the following data for its most recent year of operation: Manufacturing costs:...

Bitonti Corporation has provided the following data for its most recent year of operation: Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials $ 9 Direct labor $ 7 Variable manufacturing overhead $ 5 Fixed manufacturing overhead per year $ 156,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $ 5 Fixed selling and administrative expense per year $ 81,000 Units in beginning inventory 0 Units produced during the year 12,000 Units sold during the...

Subjects