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Question - The maintenance costs of a college department are listed below. The Controller wishes to use service hours as a cost driver for planning purposes.
Month
Service Hours
Maintenance Cost
Jan
525
$4,710
Feb
505
4,310
Mar
310
2,990
Apr
495
4,200
May
315
3,000
Jun
485
4,215
Jul
2,950
Aug
405
3,680
Sep
475
4,100
Oct
345
3,250
Nov
350
3,260
Dec
335
3,015
Totals
4,860
$43,680
Required -
1. Use the high/low method to determine the break down of the mixed costs. Express the cost in the format Y=a + bx Explain each of the terms.
Use this formula to show the maintenance costs for a month in which there were 450 service hours
2. A regression analysis was done on the above data, with the following results:
INTERCEPT = 655.92
SLOPE = 7.368
R2 = 0.983451
Use this information to show maintenance costs for the month with 450 service hours. Explain the value of the R2.
3. Explain the difference between the two results.
4. Which method would you use for planning purposes? Why? Why would you not use the other method?
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