Victoria is a budget analyst at Young Industries. She used the least squares regression method to separate the plant's monthly utilities cost into its fixed and variable components. The results were as follows: Y = 3,250 + .054 X
X = the number of units produced
R2 = .892
Which of the following statements is not true about Victoria's cost model?
A) Y represents the total semi-variable cost.
B) The total monthly fixed utilities costs are $3,250.
C) X is referred to as the dependent variable.
D) The equation Y = 3,250 + .054 X would be represented as a straight line on a graph.
Correct Answer:
Verified
Q7: Factory overhead:
A)Can be a variable cost or
Q9: Consider the following costs: I.The cost of
Q10: The method of analyzing cost behavior that
Q14: Fixed overhead cost includes all of the
Q18: The method of analyzing the behavior of
Q19: Fixed factory overhead costs include:
A)Property taxes.
B)Plant manager's
Q20: Nutt Industries electricity costs and machine hours
Q28: The most appropriate basis for allocating the
Q30: In a factory,all of the following would
Q33: The report that is prepared after the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents