PristinDay Company produces handheld calculators. The company controller wanted to calculate the fixed and variable costs associated with the maintenance cost incurred by the factory. Data for the past four months were collected as follows:
Maintenance Machine Month
July 3,000 320
August 4,000 315
September 3,300 220
Coefficients shown by a regression program are as follows:
X Variable 18.5
Using the results of regression, calculate the variable rate of maintenance cost.
a.$8.50 per machine hour
b.$10.24 per machine hour
c.$12.00 per machine hour
d.$6.65 per machine hour
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