Assume that a company wants to separate a mixed cost into its variable and fixed...
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Accounting
Assume that a company wants to separate a mixed cost into its variable and fixed elements for cost estimation purposes. It provided the following information:
| Month | Units Produced | Mixed Cost | ||||||
| January | 1,050 | $ | 11,045 | |||||
| February | 1,150 | $ | 11,870 | |||||
| March | 1,100 | $ | 11,560 | |||||
| April | 1,250 | $ | 12,100 | |||||
| May | 950 | $ | 10,800 | |||||
| June | 1,280 | $ | 12,210 | |||||
| July | 990 | $ | 10,970 | |||||
| August | 1,010 | $ | 11,005 | |||||
Assuming the company produces 1,200 units in September, using least-squares regression, the estimated total amount of the mixed cost would be closest which of the following? (Note: Round your estimate of the variable cost per unit to the nearest penny.)
Multiple Choice
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$11,950
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$11,908
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$12,002
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$11,985
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