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Midgett Co. has accumulated data to use in preparing its annual profit plan for the...

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Accounting

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Midgett Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. The cost behavior pattern of the maintenance costs must be determined The accounting staff suggested that linear regression be employed to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the last year and the results of the regression analysis are as follows Maintenance Machine Month Cost Jan. Feb. Mar. Apr. May June July Aug Sept. Oct. Nov. Dec Sum $5,040 3,648 4,320 3,331 5,221 3,550 3,655 5,365 5,110 4,866 3,944 3,790 $ 51,840 Average $4,320.00 Hours 620 420 520 390 650 400 430 690 640 610 460 440 6,270 522.50

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