George Caloz & Freres located in Grenchen Switzerland makes prestige high-end custom watches in small lots One of the company s products a platinum diving watch, goes through an etching process The company has observed etching costs as follows over the last six weeks:
Week Units Total Etching Cost
1 17 $26
2 11 $20
3 13 $24
4 12 $22
5 14 $25
6 17 $28
84 $145
For planning purposes, management would like to know the amount of variable etching cost per unit and the total fixed etching cost per week.
Required:
1. Prepare a scattergraph plot. (Place etching cost on the vertical axis and units on the horizontal axis.)
2.a. Using the least-square regression method, estimate the variable and fixed elements of etching cost.
Fixed cost
Variable Cost per unit
2.b. Express the cost data in (2a) above in the form Y = a + bX.
3. If the company processes fifteen units next week, what would be the expected total etching cost?
Variable cost
Fixed cost
Total expected cost $0.00
Answers: 3
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