Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gator beach marts, a chain of convenience grocery

Gator Beach Marts, a chain of convenience grocery stores in the Fort Lauderdale area, has...

80.2K

Verified Solution

Question

Accounting

Gator Beach Marts, a chain of convenience grocery stores in the Fort Lauderdale area, has store hours that fluctuate from month to month as the tourist trade in the community varies. The utility costs for one of the companys stores are listed below for the past six months.
Month Total Hours of Operation Total Utility Cost
January 400 $ 1,420
February 6001,800
March 7502,100
April 3501,400
May 3001,150
June 2501,1001-a. Use the high-low method to estimate the cost behavior for the stores utility costs. Express the cost behavior in formula form (Y = a + bX).
1-b. What is the variable utility cost per hour of operation?
3-a. Construct an Excel spreadsheet and use the Excel commands to perform a least-squares regression. Estimate the cost behavior for the store's utility cost. Express the cost behavior in formula form.
3-b. What is the variable utility cost per hour of operation?
4. During July, the store will be open 300 hours. Predict the stores total utility cost for July using each of the cost-estimation methods employed in requirements (1) and (3).

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Slick Corporation is a small producer of synthetic motor oil. During May, the company produced 5,000...

Accounting
Q

In the cross between two individuals heterozygous for two different traits, it is expected that...

Biology
Q

28 Answer Q 28 29 30 by appropriately matching the information given in the three...

Physics
Q

Solve the initial value problem 5x x 3 dx x 1 y 1 Y 1...

Basic Math
Q

Return on Investment, Margin, Turnover Data follow for the Consumer Products Division of...

Accounting
Q

When incorporating, it is important to consider whether or not the companys business deals internationally....

Accounting
Q

The following information is for X Company's two products - A and B: ...

Accounting
Q

For the company "Canadian Pacific Railway Limited", for the year ended in 2020 please help...

Accounting
Q

Merlin Automotive Company Introduction Hard times have come upon the small Merlin Automotive Company. Financially,...

Accounting
Q

Hudson Company reports the following contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement...

Accounting
Q

Gold Nest Company of Hong Kong is a family-owned enterprise that makes souvenirs for the...

Accounting
Q

Income [L010-1, LO10-2] Selected sales and operating data for three divisions of different structural...

Accounting