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Methods of estimating costs-multiple regression

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Methods of Estimating Costs: Multiple Regression

Multiple regression results from the data of Adriana Corporation are as follows:

Equation: Overhead = $124,570 + ($31.93 × Labor-hours) + ($41.10 × Machine-hours) Statistical data

 

Correlation coefficient

.982

R 2

.964

Required

Estimate overhead using the multiple regression results, assuming that the company expects the plant to operate at a monthly average of 9,000 machine-hours and 3,000 labor-hours next year.

Reference no: EM13554466

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