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Stamp Printing Corp., a book printer, has provided the following data: ...

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Accounting

Stamp Printing Corp., a book printer, has provided the following data:

Titles Printed Press Setup Cost
February 39 $2,197
March 40 $2,218
April 36 $2,134
May 31 $2,044
June 48 $2,424
July 47 $2,377
August 29 $1,997
September 45 $2,353

Management believes that the press setup cost is a mixed cost that depends on the number of titles printed. (A specific book that is to be printed is called a "title". Typically, thousands of copies will be printed of each title. Specific steps must be taken to setup the presses for printing each title-for example, changing the printing plates. The costs of these steps are the press setup costs.)

On the basis of the above data, you are required to do the following:

  • Estimate the variable cost per title printed and the fixed cost per month using the least-squares regression method.

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