Garfield Company manufactures a popular brand of dog repellant known as DogGone It, which it...
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Accounting
Garfield Company manufactures a popular brand of dog repellant known as DogGone It which it sells in gallonsize bottles with a spray attachment. The majority of Garfields business comes from orders placed by homeowners who are trying to keep neighborhood dogs out of their yards. Garfields operating information for the first six months of the year follows:
Month Number of Bottles Sold Operating Cost
January $
February
March
April
May
June
Required:
Using the highlow method, calculate Garfields total fixed operating costs and variable operating cost per bottle.
Perform a leastsquares regression analysis on Garfields data.
Determine how well this regression analysis explains the data.
Using the regression output, create a linear cost equation y a bx for estimating Garfields operating costs.
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