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How much is the estimated variable cost per labor hour

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Reference no: EM132621105

Ali Company would like to estimate the variable and fixed components of its maintenance costs and has compiled the following data for the last five months of operations

                       Labor Hours                          Maintenance Cost

January                 190                                $677

February                120                                $593

March                    170                                $646

April                      110                               $623

May                      100                                 $582

Using the least-squares regression method,

Problem (a) How much is the estimated variable cost per labor hour for maintenance?

Problem (b) How much is the estimated total fixed cost per month for maintenance?

Problem (c) What if June had an expected labor hours of 150, how much would be the maintenance cost on June ?

Problem (d) What is the total maintenance cost for March located with respect to the regression line?

Reference no: EM132621105

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