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Serenity Living manufactures gas fireplaces for home use. Each unit produced goes through a complex...

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Accounting

Serenity Living manufactures gas fireplaces for home use. Each unit produced goes through a complex quality control process. The company has observed quality control costs as follows over the past 16 weeks:

Week Units Produced Total Quality Control Costs

1 27 $ 570

2 18 $ 460

3 33 $ 620

4 15 $ 420

5 21 $ 540

6 30 $ 600

7 23 $ 517

8 24 $ 528

9 20 $ 457

10 22 $ 485

11 25 $ 539

12 32 $ 637

13 29 $ 588

14 17 $ 404

15 19 $ 444

16 34 $ 622

For planning purposes, the companys management wants to know the amount of variable quality control costs per unit and the total fixed quality control costs per week.

Required:

1. Using the least-squares regression method, estimate the variable and fixed elements of the quality control cost. (Round variable cost to 2 decimal places.)

2. If the company produces 23 gas fireplaces next week, what are the expected total quality control costs? (Round intermediate and final value to 2 decimal places.)

Please Help me answer this. Thank You

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