Homework Answers
Answer 7:
Correct answer is:
D. 91.8%
Explanation:
R2 value which is also called coefficient of determination gives the percentage of variation in dependent variable explained by variations in independent variable.
Coefficient of determination as given is 0.918 = 91.8%
Hence option D is correct and other options A, B, C and E are incorrect.
Answer 8:
Correct answer is:
E. $248,000
Explanation:
From regression analysis results, the cost equation is:
Total overhead cost = $120,000 + $6.40 * DLH
Hence total overhead cost for activity level of 20,000 DLH is = 120000 + 6.40 * 20000 = $248,000
Hence option E is correct and other options A, B, C and D are incorrect.
Answer 9:
Correct answer is:
A. $9.56
Explanation:
Variable cost per unit:
Direct material = $100000 / 100000 = $1.00
Direct labor = $80000 /100000 = $0.80
Variable overhead cost = 6.40 * 10000/ 100000 = $0.64
Total variable cost per unit = 1 + 0.80 + 0.64 = $2.44
Unit contribution margin = sale price - unit variable cost = 12 - 2.44 = $9.56
Hence option A is correct and other options B, C, D, and E are incorrect.
Answer 10:
Correct answer is:
C. $2.44
Explanation:
Variable manufacturing cost per unit:
Direct material = $100000 / 100000 = $1.00
Direct labor = $80000 /100000 = $0.80
Variable overhead cost = 6.40 * 10000/ 100000 = $0.64
Total variable manufacturing cost per unit = 1 + 0.80 + 0.64 = $2.44
Hence option C is correct and other options A, B, D, and E are incorrect.
Answer 11:
Correct answer is:
D. TC = $120,000 + 2.44x
Explanation:
As calculated in answer 1- above:
Total variable manufacturing cost per unit = $2.44
From regression analysis result, we have:
Fixed manufacturing overhead = $120,000
Hence:
Manufacturing cost equation will be:
TC = $120,000 + 2.44x
Hence option D is correct and other options A, B, C and E are incorrect.
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