Bargain Rental Car wants to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility that cleans each rental car before releasing it to another customer. Management believes the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month January February March April May June July August September October November December Rental Returns. 2,500 2,500 2,800 3,100 3,700 5,200 5,600 5,700 4,800 4,900 2,300 3,100 Exercise 5A-2 Part 2 (Algo) Fixed cost per month Variable cost per rental return Car Wash Costs $ 11,800 $ 13,500 $ 12,600 2. Using least-squares regression; estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. Note: Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places. $ 15,500 $ 17,000 $ 24,900 $ 23,000 $ 24,200 $ 23,600 $ 23,500 $ 11,500 $ 17,000 wwwwww

Bargain Rental Car wants to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility that cleans each rental car before releasing it to another customer. Management believes the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month January February March April May June July August September October November December Rental Returns. 2,500 2,500 2,800 3,100 3,700 5,200 5,600 5,700 4,800 4,900 2,300 3,100 Exercise 5A-2 Part 2 (Algo) Fixed cost per month Variable cost per rental return Car Wash Costs $ 11,800 $ 13,500 $ 12,600 2. Using least-squares regression; estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. Note: Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places. $ 15,500 $ 17,000 $ 24,900 $ 23,000 $ 24,200 $ 23,600 $ 23,500 $ 11,500 $ 17,000 wwwwww

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Description: Bargain Rental Car wants to better understand the variable and fixed portions of its car washing costs. The companyoperates its own car wash facility that cleans each rental car before releasing it to another customer. Managementbelieves the variabl

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter2: Descriptive Statistics

Section: Chapter Questions

Problem 3P: Ohio Logistics manages the logistical activities for firms by matching companies that need products...

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Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Rental Car Wash Month Returns Costs January 2,400 $ 10,500 February 2,500 $ 12,900 March 2,700 $ 11,300 April 2,900 $ 13,500 May 3,600 $ 15,700 June 4,900 $ 22,300 July 5,500 $ 21,700 August 5,400 $ 20,900 September 4,700 $ 22,300 October November December 3,800 $ 19,600 2,100 $ 10,200 2,600 $ 12,500 . Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the…
Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month Rental Returns Car Wash Costs January 2,500 $ 11,600 February 2,500 $ 13,400 March 2,800 $ 12,400 April 3,100 $ 15,200 May 3,700 $ 16,800 June 5,200 $ 24,500 July 5,600 $ 22,800 August 5,600 $ 23,700 September 4,800 $ 23,400 October 4,200 $ 22,900 November 2,300 $ 11,300 December 3,000 $ 16,300 2. Using least-squares regression, estimate the variable cost…
Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled: Month Rental Returns Car Wash Costs $ 11,500 $ 13,400 $ 12,300 $ 15,000 $ 16,700 $ 24,300 $ 22,700 $ 23,400 $ 23,300 $ 22,600 $ 11,200 $ 16,000 January February 2,500 2,500 March April May June July August September October 2,800 3,100 3,700 5,100 5,600 5,600 4,800 4,100 2,200 3,000 November December 2. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the…
The controller of the Blade Company wants you to estimate a cost function from the following two observations in a general ledger account called Maintenance: (Click to view the information.) Required 1. Estimate the cost function for maintenance. 2. Can the constant in the cost function be used as an estimate of fixed maintenance cost per month? Explain. Requirement 1. Estimate the cost function for maintenance. (Round your answers to the nearest cent as needed.) Maintenance costs = Maintenance costs = +( +( X X Requirement 2. Can the constant in the cost function be used as an estimate of fixed maintenance cost per month? Explain. the relevant range, not at cost levels the relevant range. If there are no months with zero The cost function in requirement 1 is an estimate of how costs behave machine-hours represented in the maintenance account, data in that account function provides the best available starting point for a straight line that approximates how a cost behaves be used to…
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Your organization has opened a walk-in clinic. A list of expenses has been given to the new staff accountant, Marvin, from the walk-in clinic manager and Marvin needs your help. Marvin wants you to help him identify whether costs shown in the table below are direct or indirect. Additionally, Marvin would like you to describe: 1. The difference between direct and indirect costs. 2. The "rule of thumb" for recognizing direct costs. 3. Update the direct and indirect columns by placing an X in the appropriate column. 4. The monetary total of direct and indirect costs. Item Cost Direct Indirect IT Salaries and Benefits $1,500 RN Salaries and Benefits $9,600 Utilities and Telephone $3,000 Carpets $1,000 Magazine Subscriptions $ 50 Vehicle Expense $1,775 Exam Table $5,500 End Tables $ 500 Coffee Tables $1,400 Facility Insurance $ 650 Staff Uniforms $1,200 Cleaning Supplies $ 200 Desk Lamps $ 150…
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