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Use the following data to generate a quote model for future business. This can be accomplished by performing a high-low or regression analysis to generate an equation relating direct labor hours to product cost
Year
Quarte
r
Direct labor
hrs.
Manufacturing
cost
2014
Q1
2,512
$224,950
Q2
2,432
$214,100
Q3
2,645
5226,840
Q4
2,723
$228.760
2015
2,355
$211;950
Within your analysis, make sure to include the following:
Question 1: Explain how jobs can be estimated by using a quote model based on previous data.
Question 2: Discuss the different methods of cost estimation.
Question 3: Prepare a bid for a job that would require 2,700 direct labor hours.
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