A company reports the following information about its sales and its cost of sales. Each unit of its product sells for $500. Use these data to prepare a scatter diagram. Draw an estimated line of cost behavior and determine whether the cost appears to be variable, fixed, or mixed.
Period | Sales | Cost of Sales |
1 | $15,000 | $10,100 |
2 | 11,500 | 7,500 |
3 | 10,500 | 7,000 |
4 | 7,500 | 5,500 |
5 | 9,000 | 6,000 |
6 | 12,500 | 9,500 |
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