What are the estimated quarterly factory costs

Reference no: EM133689873

Problem: Fiske Corporation manufactures a popular regional brand of kitchen utensils. Results from a multiple regression of factory costs on labor hours and machine hours using the data of Fiske Corporation are as follows: Equation: Overhead= $993,339+ ($33.79 x machine hours) + ($120.26 x labor hours) Statistical data Correlation coefficient 0.984 R^2 0.967 Adjusted R^2 0.960 Managers expect the plant to operate at 19,500 labor hours and 28,000 machine hours next quarter. Assuming the relationship remains the same with the new product line and using the results from this regression, what are the estimated quarterly factory costs?

Reference no: EM133689873

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