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
$11,950
$11,908
$12,002
$11,985
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